Srei Investor Update Mar16 New

SREI INFRASTRUCTURE FINANCE LIMITED
INVESTOR PRESENTATION MAR 2016

WE ARE NOT JUST FINANCIERS!
WE ARE PARTNERS IN HELPING BUILD

BUSINESSES.
WE PROVIDE MORE THAN
JUST FINANCING.
WE BRING INSIGHT, KNOWLEDGE,

EXPERTISE AND CROSS-CATEGORY
LEADERSHIP TO EVERY TRANSACTION.
DID YOU KNOW ?
• Promoted India's 1st equipment banking Company – Quippo.
st
 Quippo – One of the largest infrastructure equipment rental company in the Country.
 Srei BNP Paribas – India’s largest construction and mining equipment financier with
over ~30% market share.
• 1st company to lay the ground for passive telecom infrastructure in India.
 Quippo Telecom – The first company to enter into shared Passive telecom
infrastructure in India. Quippo Telecom partnered with the Tata Teleservices and Viom
has become one of the world’s largest independent telecom infrastructure companies.
• 1st to break new ground in rural IT infrastructure in India, under the National E-Governance Plan
of the Government of India.
• Sahaj – India’s largest integrated rural network of over 40,768 Common Services Centres
(CSC), covering 400 mn people (44% of India’s rural population).
• Power Distribution Sector
• Power – Distribution Network with T&D losses of only 2.24 % against country average of
25%.
• 1st PPP in Water Distribution Sector
• Swach - Awarded the prestigious Nangloi PPP contract by Delhi Jal Board, in partnership
with JV partner Veolia Water for water treatment and distribution.
INNOVATION AND PIONEERING

INITIATIVES IS THE HALLMARK OF
DISCUSSION SUMMARY
 COMPANY OVERVIEW………………………………………………
 FINANCIAL OVERVIEW……………………………………………..
 BUSINESS VERTICALS……………………………………………..
 KEY BUSINESS HIGHLIGHTS…………………………………….
 INFRASTRUCTURE EQUIPMENT GROUP
 SREI BNP PARIBAS………………………………………….
 INFRASTRUCTURE PROJECT GROUP
 DEBT PORTFOLIO – LOAN BOOK…………………………
 EQUITY PORTFOLIO – INVESTMENTS……………………
 CONSOLIDATED FINANCIALS……………………………………...
COMPANY OVERVIEW
BUSINESS STRUCTURE
FOCUSED INFRASTRUCTURE SOLUTION PROVIDER
INFRASTRUCTURE EQUIPMENT GROUP INFRASTRUCTURE PROJECT GROUP
ASSET MANAGEMENT :
EQUIPMENT FINANCING
DEBT EQUITY MEZZANINE
CONSTRUCTION EQUIPMENT
RENTALS PROJECT FINANCE, PE / VENTURE FUND, STRUCTURED
INFRA DEBT FUND PROJECT EQUITY FINANCE
EQUIPMENT VALUATION &
AUCTIONS ADVISORY
CAPITAL MARKETS - INVESTMENT

PROJECT ADVISORY
BANKING ADVISORY
STRONG EXPERTISE ACROSS SECTORS - TRANSPORTATION, POWER, TELECOM, RURAL INFRASTRUCTURE, URBAN
INFRASTRUCTURE, SEZ / INDUSTRIAL PARKS, PORTS
END TO END INFRASTRUCTURE SOLUTIONS

LEVERAGING OUR DEEP DOMAIN KNOWLEDGE ACROSS SECTORS AND STRONG RELATIONSHIPS IN THE
INFRASTRUCTURE SPACE
Copyrights © Srei Infrastructure Finance Limited 2016 5
COMPANY OVERVIEW
PRESENCE ACROSS INFRASTRUCTURE
VALUE CHAIN AND VERTICALS
INFRASTRUCTURE PROJECT GROUP THROUGH VARIOUS PRODUCT OFFERINGS :
Infra Finance – Equity – Significant

OFFERING Equity - Telecom Infra Equity - Social Infra
Loan Book Road Assets
25 years of in-house Current portfolio of 8 JV with Tata Teleservices Largest network of over
expertise in Project significant road India’s largest 40,768 CSCs across 12
Finance & Advisory. projects of close to independent tower states in India, rapidly
Disbursements of around 3,264 lane kms. company with 42,569 expanding to new states
Rs.302 bn from FY’11 to Well diversified BOT towers & highest
FY’16 Asset Portfolio spread tenancy ratio of 2.62x
across 7 states.
INFRASTRUCTURE EQUIPMENT GROUP THROUGH ENTIRE EQUIPMENT LIFECYCLE :
Construction Equipment Valuation

OFFERING Equipment Finance
Equipment Rentals & Auctions
JV with BNP Paribas One of India’s largest Leading Player with Pan
Market leader with infrastructure India presence and in-depth
~30% market share equipment rental knowledge of Construction
company focussed on Equipment segment
Disbursements of
Construction. offering valuation and
around Rs.578 bn from
auctioning services
FY’11 to FY’16

COMPANY OVERVIEW
FINANCIAL OVERVIEW
CONSOLIDATED FINANCIALS SHARE PRICE DETAILS
FY16 FY15 As on 31/03/2016 – NSE
Consolidated AUM 36,702 35,387

Market Capitalization (crs) 2,780
Net Income 780 1,114
Market Price (Rs) 55.25
PAT 73 129
Net Worth 3,231 3,174 No of Shares Outstanding (crs) 50.3
ROAE (%) 2.7% 4.9%
* CRAR (%) 17.5% 17.0% 52-Wk High / Low (Rs) 71.00 / 30.10
SHAREHOLDING PATTERN – MAR 2016 INSTITUTIONAL HOLDING – MAR 2016

Key Institutional Investors % Holding
Individuals
10%
Fidelity 8.87
Promoters Treasury
59% Stock Vanguard Total International Stock index Fund 0.72
10%
Dimensional Emerging Markets Value Fund 0.36

Foreign
Holding Govt.Pension Fund Global 0.27
14% Pvt Corp
Bodies
7% Wisdom Tree 0.23
Japan Trustee Services Bank 0.22
Figures in Rs. crs Copyrights © Srei Infrastructure Finance Limited 2015 7

* Standalone
COMPANY OVERVIEW
STRATEGIC & FINANCIAL ALLIANCES
Our Credentials - Leading financial institutions have invested in

and/or financed Srei and its subsidiaries/JVs

CORPORATE GOVERNANCE
BOARD OF DIRECTORS
Salil K Gupta  Former Chairman, West Bengal Industrial Development Corporation Limited (WBIDC) – A leading State financial institution
Chief Mentor  Former President, The Institute of Chartered Accountants of India (ICAI)
 Council Member, Indo-German Chamber of Commerce

 Former Chairman - National Committee on Infrastructure of Federation of Indian Chambers of Commerce & Industry (FICCI)
Hemant Kanoria  Former President, Calcutta Chamber of Commerce
Chairman & Managing  Served as Member in Regional Direct Taxes Advisory Committee, Government of India
Director  Former Member of Board of Governors, Indian Institute of Management, Calcutta (IIMC)
 New Delhi Institute of Management - Board of Governors
 IIT Guwahati - Member of Board of Governors .
 President - elect of The Associated Chambers of Commerce & Industry of India (ASSOCHAM)
 Governing body Member of the Construction Industry Development Council (CIDC)
Council Member of the Institute of Chartered Accountants of India (ICAI)
Sunil Kanoria 
 Served as Member of the Working Group on Construction for the Xth Five Year Plan of Planning Commission, Govt. of India
Vice Chairman  Member of Central Direct Taxes Advisory Committee
 Served as President in Hire Purchase & Lease Association - Kolkata (HPLA); Merchants’ Chamber of Commerce - Kolkata (MCC) and
Federation of Indian Hire Purchase Association (FIHPA)
Over 42 years’ of experience in Banking Industry
S. Rajagopal

 Former CMD of both Bank of India & Indian Bank
 Over 47 years of experience in Retail, Commercial & Investment Banking and NBFC
 Former Executive Director, Axis Bank Limited, Mumbai
S. Chatterjee  Member of the Board of Directors of Nabil Bank, Nepal
 Extensive exposure in the area of International Banking having worked in SBI, London and as the Chief Representative in Washington D.C
having worked closely with IFC, World Bank and IMF
 Over 23 years’ experience in asset management in international and emerging markets.
Former Chief Investment Officer (CIO), Blackstone Asia Advisors L.L.C. and also served as a Senior Managing Director in The Blackstone
Dr. Punita Kumar Sinha

Group LP
 Served as CIO and Senior Portfolio Manager, NYSE listed India Fund Inc. and Asia Tigers Fund Inc.
 Over 38 years’ of experience of spanning career with SBI, held diverse assignments in International Banking, Investment Banking,
Corporate Finance, Corporate consultancy in addition to Domestic banking as Branch head / Branch Controller, held Board positions in
various SBI subsidiaries in North America, Africa and Asia
He has also served as CMD of EXIM Bank of India
Mr. T.C.A. Ranganathan

 Has been a Member of several Government of India overseas initiatives such as Indo-South Africa CEO Forum, Indo-Africa Business Council,
Indo-Myanmar Joint Trade and Investment Forum etc
 Associated with some U.N arms for overseas consultancy apart from working as an arbitrator through the panels of NSE/BSE/NCDEX/Indian
Council of Arbitration.
 Over 30 years’ experience in legal field and is a specialist in transnational legal transactions in media, real estate development, insurance
and infrastructure
 Extensive experience in the structure of Projects implemented under project finance and on foreign participation in the privatization of
Dr. Tamali Sen Gupta Infrastructure, international joint-ventures, collaboration and licensing agreements, mergers and acquisitions
 Widely published author and a Fellow of the Centre of International Legal Studies at Salzburg
Proprietor of T. Sengupta & Associates, a corporate law practice based in New Delhi.

COMPANY OVERVIEW
SNAPSHOT OF OUR BUSINESS VERTICALS
INFRA EQUIPMENT GROUP INFRA PROJECT GROUP
EQUIPMENT FINANCE - SREI BNP

INFRA FINANCE STRATEGIC INVESTMENTS
PARIBAS
Key Metric FY16 FY15 Key Metric FY16 FY15

Telecom Infra – VIOM ** 1,598
Total AUM 19,138 18,825 Loan Portfolio 13,443 12,243
BOT Road Assets 307
NIM 4.8% 4.9% Gross Spread 2.1% 3.5%
Rural IT – Sahaj 13
ROAA 0.7% 0.9% ROAA 0.3% 0.6%
Other Investments 123
ROAE 5.1% 7.2% ROAE 2.1% 3.4%
CRAR 17.5% 17.0% FEE BASED

CRAR 19.6 % 17.1%
GROSS NPA 2.8% 4.7% GROSS NPA 4.5% 4.6% Key Metric FY16 FY15
NET NPA 1.9% 3.6% NET NPA 3.4% 3.8% Fee Income 50 161
Figures in Rs. crs
KEY STRATEGIC INVESTMENTS
# VIOM – Telecom Infra Significant Road BOT Asset SEZ & INDUSTRIAL PARK
Sahaj (FY16)
(FY16) Portfolio
Over 2,991 acres of Land
Total No of Towers 42,569 Total No of Projects 8
Largest CSC network in India acquired for the development
Operational Projects 5 (~28% share) offering G2C, B2C & of SEZ & Industrial Parks.
Tenancy 2.62x FI Services in 12 States.
Mumbai SEZ /
To be Operational 3 345 Acres
Industrial Park
Gross Revenue 5,171
Total Lane Kms 3,264 No. of CSCs 40,768 Industrial Park,
128 Acres
EBIDTA Margin % 58% WB
Current Cumulative Population of Mandated
Toll Revenue in 383 ~ 400 2518
Cash Profit 1,369 Dist. (in Mn) Tamil Nadu SEZ
FY’16 Acres
10
• # FY16 figures of Viom are estimate
• ** Divested in April 2016 Copyrights © Srei Infrastructure Finance Limited 2016
BUSINESS HIGHLIGHTS: FY16 (CONSOLIDATED)
• Group Disbursement stood at Rs.14,533 crs as compared to Rs. 12,546 crs in

Business Highlights
same period previous year
• Equipment Finance disbursement was Rs. 9,158 crs in FY16 as compared to
Rs. 7,719 crs in FY’15 and Project Finance disbursement was Rs. 5,374 crs in
FY16 as compared to Rs. 4,827 crs in FY’15
• Consolidated Net Worth* stood at Rs 3,231 crs against Rs 3,174 crs in same
Balance Sheet period previous year, Consolidated Borrowings stood at Rs 20,673 crs as
against Rs. 20,326 crs in FY’15
• Total Income stood at Rs. 3,262 crs as against Rs. 3,538 crs in same period
Profitability
previous year
• Profit Before Tax in FY16 is Rs 106 crs as compared to Rs 188 crs in same
period previous year, Profit after Tax (after minority) is Rs 73 crs as against
Rs. 129 crs in same period previous year
• Forex Loss in FY16 is Rs 17 crs , last year same period loss was Rs.13 crs.
Loan Portfolio • Interest Earning Portfolio of Equipment Financing is Rs 18,708 crs and that of
Analysis Project Financing portfolio is Rs 14,245 crs
• Net NPA for Equipment Financing is 1.90 % and for Project Financing
is 3.43%
• NPA ratios in Equipment Finance are at its lowest in last 3 years.
* Change in Net Worth is due to change in its definition in Companies Act 2013
EQUIPMENT GROUP
THE SREI ECO-SYSTEM
Sustainable Competitive Advantage
ASSET LIFECYCLE
ASSET PURCHASE ASSET DEPLOYMENT ASSET MANAGEMENT ASSET EXIT / RESALE
STANDALONE NBFC /
FINANCER
SREI - END TO END SOLUTION PROVIDER ACROSS THE VALUE CHAIN
LEVERAGING THE SREI ECO-SYSTEM TO DELIVER……

 Assisting in right  Equipment Banking  Asset Maintenance - 32  Valuation & Inspection
equipment purchase.  Captive Contracts captive stockyards for  Valuation & Auctioning
 Customized financial  Hiring Contracts & Match face lifting of assets. services – Asset
solutions – Making Thus improving residual disposal services
 Loans & Advances  Leveraging relationships to value of assets.  Advising on asset
 Operating Lease improve deployment of  Yard Management disposal & resale
 Equipment on Rentals assets during downtime.  Equipment Refurbishment options.
SOLUTION PROVIDER
SREI BNP Paribas SREI BNP Paribas
QUIPPO CE
ZAO SREI SREI INFRA QUIPPO AUCTION
QUIPPO AUCTION
QUIPPO CE QUIPPO CE
MANAGING CUSTOMER RELATIONSHIPS THROUGH THE ENTIRE ASSET LIFECYCLE

SREI BNP PARIBAS
ABOUT US
STRONG PEDIGREE Ownership

 Srei BNP Paribas, is a 50:50 joint-venture between – SREI Infrastructure BNP Paribas
 # Srei Infra – India’s only private sector NBFC in the infrastructure space Finance Ltd Lease Group
 BNP Paribas Lease Group – the largest leasing group in Europe with a
presence in over 15 countries.
Leading Public
Financial
+ Amongst
May
World’s Largest
‘08
Institution in
Global Banks
India
MARKET LEADERSHIP
SREI Equipment Finance Pvt. Ltd.
 Largest construction & mining equipment financier in India with over ~30
% market share, with a customer base of over 60,000 built and nurtured
over last 25 years.
 Have entered in new sectors like information technology, healthcare, rural,
logistics etc. to tap the attractive growth opportunity.
 Current AUM of Rs.19,138 crs as on 31st Mar, 2016.
PRESENCE & TIE-UPs
 Pan-India distribution network of 88 branches including 15 state offices.

 Partnerships with all leading domestic & international equipment
manufacturers & vendors.
 Full time employee base of close to 1,650 people as on 31st Mar, 2016.
Note : # Srei Infra entered into agreement with BPLG to buy its 50% stake in Srei
Equipment Finance Limited. Copyrights © Srei Infrastructure Finance Limited 2015 13
SREI BNP PARIBAS
FINANCIAL SUMMARY
LOAN BOOK MARGIN ANALYSIS

6.0%
18,670 18,300 19072 18708 4.86% 4.75%
17,701 5.0% 4.6% 4.68%
4.4%
4.0%
3.8%
3.0% 3.5% 3.48%
10,799 3.04% 3.07%
9158
2.0%
7,900 6611
7719 1.0%
0.0%
FY13 FY14 FY15 YTD Dec'15 FY16
FY13 FY14 FY15 YTD Dec'15 FY16
Interest Earning Assets Disbursements Gross Interest Spread NIM
RETURN RATIO & CRAR ASSET QUALITY #
25.0% 1.8% 2.0% 6.00%

4.78% 4.73%
5.00%
20.0%
1.3% 17.44% 19.60% 1.5% 3.70%
16.5% 4.00%
15.0% 17.1% 17.1% 3.91%
16.2% 2.84% 3.64% 2.80%
0.9%
0.67% 1.0% 3.00%
10.0% 11.3% 0.67% 2.75%
2.00% 2.16%
0.5% 1.90%
5.0% 7.2%
5.22% 5.10% 1.00%
0.0% 0.0%
0.00%
FY13 FY14 FY15 YTD Dec'15 FY16 FY13 FY14 FY15 YTD Dec'15 FY16
ROANW CAR ROAA # On Total Assets Gross NPA % Net NPA %

SREI BNP PARIBAS
FAR-REACHING DISTRIBUTION NETWORK
BRANCH NETWORK ZONE WISE PORTFOLIO SPLIT
March 2015 March 2016
2
21 1
6 3
2 1
Rs.18,300 crs Rs.18,708 crs
5 4 2
3 3
Disbursements(1) Mar
10 No. of branches
2016(Rs.crs)
11 Zones
18 2112
10 North
18 23 1818
East
West 18 2367
32 2861
9 South
3 91 9158
Note 1: Finance Amount
Well spread branch network helps (i) to tap growing demand & (ii) develop customer insights

SREI BNP PARIBAS
EQUIPMENT FINANCE VERTICALS
Target Segment-
• First time Target Segment- Target Segment- Target Segment- Target Segment-
owners/buyers
• Medium & Large • Large corporates & • Hospitals • Contract farmers • Retail, SME players
customers IT companies • Diagnostic Centers • Tractor owners ( used for
• Project Owners • System integrators construction, miming
• Large Fleet • OEM’s, banking & equipment &
Owners financial institutions technology )
Strategy-
• Grow Vendor
Finance
Strategy- Strategy- Strategy- Strategy-
• Grow Retail &
• Focus on AAA & • Direct sourcing • Alliances & Vendor • Alliances with
SME
AA customers • Approach high end Financing manufacturers
• Reduce
• Grow Vendor customers • Select Asset • Select Asset
Strategic
Financing • Form alliances
Portfolio to 50%
• Balance
Portfolio growth
• Strengthen
technology
• Talent
development
Construction IT Rural
Healthcare Used
& Mining Infrastructure Infrastructure
Infrastructure

SREI BNP PARIBAS
BALANCE SHEET OVERVIEW
Balance Sheet Summary (Rs crs) FY16 FY15
Interest Earning Assets (incl. securitised) 18,708 18,300

Securitised Assets 2,936 2,053
Net Worth 2,322 2,209
Borrowings 11,854 13,065
Other Assets (Net) (1,555) (935)
Key Ratios Mar-16 Mar-15

Return on Avg. Net Worth 5.1% 7.2%
Return on Avg. Assets on Books 0.7% 0.9%
Leverage 5.1 5.9
CRAR 19.6% 17.1%
SREI BNP PARIBAS
INCOME STATEMENT HIGHLIGHTS
Income Statement (Rs crs) FY16 FY15 Q4 FY16 Q4 FY15 Q3 FY16
Disbursement 9,158 7,719 2,547 1,519 2,639

Income from finance activities (Net of OL
2,306 2,320 580 563 599
Dep.)
Finance charges (excl Forex Impact) 1,417 1,443 349 354 361
NII 888 877 232 209 238
NPA Provision & Write off 389 336 116 84 103
Provision on Standard Asset 7 0 (3) (1) 2
NII (Net of Provision) 492 540 118 126 133
Other Income 1 8 0 0 -
Operating Expenditure 333 323 83 107 82
PBT before Forex M2M 161 226 36 19 51
Forex M2M 0 (1) (2) (1) 1
PBT 160 227 38 20 50
PAT 115 153 27 16 37
Key Ratios Mar-16 Mar-15 Dec-15

Yield on Avg. Funds 13.9% 14.3% 13.7%
Cost of Funds 10.8% 10.8% 10.6%
Interest Spreads 3.1% 3.5% 3.0%
NIM 4.7% 4.9% 4.7%
Gross NPA* 2.8% 4.7% 3.7%
Net NPA* 1.9% 3.6% 2.8%
* On Total Assets
SREI INFRASTRUCTURE FINANCE LTD
INFRASTRUCTURE PROJECT GROUP
Focused Infrastructure Solutions Provider across the entire value chain & verticals
STRONG PEDIGREE & CREDENTIALS
 More than 2 decades of experience in Infrastructure space.

 Srei was classified as “Infrastructure Finance Company” (IFC) in the year 2011 and was also notified as “Public Financial
Institution” (PFI) by the Ministry of Corporate Affairs.
WIDE SPECTRUM OF PRODUCT OFFERINGS

 Customized project financing solutions across various sectors in infrastructure domain.
 Structured financing solutions that mitigate risk and provide flexibility for meeting unique needs of the customers.
 Strategic equity solutions for key infrastructure projects.
 Project advisory solutions.
 Investment banking advisory solutions providing an efficient channel to access capital markets.
STRONG FINANCING CAPABILITIES
 Diversified across various sectors - Power, Ports, Logistics, Transportation, Urban Infrastructure, Airport/Aviation and Telecom.
 FY’16 Loan book – Rs.13,443 crs (FY11 – FY’16 CAGR – 22%)
 FY’16 Investments – Rs.2,769 cr

KEY PRODUCT SEGMENTS
Srei Infrastructure Finance Ltd

FOCUSED INFRASTRUCTURE SOLUTIONS PROVIDER
DEEP DOMAIN KNOWLEDGE AND STRONG RELATIONSHIPS ACROSS THE ENTIRE INFRASTRUCTURE SPACE
PREFERRED PARTNER FOR MANAGING THE ENTIRE INFRASTRUCTURE PROJECT LIFECYCLE
DEBT MEZZANINE EQUITY ADVISORY

 Customized project Structured credit Strategic equity Project development &
financing solutions - solutions that mitigate solutions for key management solutions –
 Project Finance risk and provide infrastructure projects–  Advised more than 75
flexibility for meeting  Transportation projects costing over
 Term Loan
unique needs of the Rs.75,000 crs.
 Syndicate Loan  Telecom
customers –
Infrastructure
 Lease Financing  Structured Debt Investment banking
 Power advisory –
 Sale & Lease Back  Subordinated Debt
 Rural IT  Mergers & Acquisitions
 Non-fund credit  Hybrid Equity Infrastructure
facilities  Private Equity
 Bridge Financing  SEZ & Industrial
 DCM, ECM & Corporate
Parks
Advisory
 Environment (Water
& Waste
Management)

BALANCE SHEET OVERVIEW
Interest Earning Assets 14,245 12,822

Net Worth 2,701 2,657
Investments 2,769 2,839
Other Assets (Net) 601 947
Return on Avg. Assets 0.3% 0.5%
Leverage 5.4 5.2
CRAR 17.5% 17.0%
INCOME STATEMENT HIGHLIGHTS
Disbursement 5,374 4,827 1,446 1,569 775

Income from finance activities (Net of OL
Dep.) 1,788 1,835 449 436 424
NII 214 324 46 52 37
NPA Provision & W rite off 49 271 3 164 (5)
Provision on Standard Assets 9 0 2 (1) 1
NII (Net of Provision) 157 53 41 (111) 41
Fee Based Income 34 131 3 90 3
Income from Investment 1 52 1 51 -
Other Income 39 36 9 9 9
PBT before Forex M2M 93 129 20 8 19
Forex M2M 12 9 0 (2) 1
PBT 81 120 19 10 17
PAT 57 91 14 16 12
Key Ratios Mar-16 Mar-15 Dec-15

Yield on Avg. Funds 13.4% 14.9% 13.7%
Cost of Funds 11.3% 11.4% 11.3%
Interest Spreads 2.0% 3.5% 2.2%
Gross NPA* 4.5% 4.6% 4.6%
Net NPA * 3.4% 3.7% 3.6%
* On Total Assets Copyrights © Srei Infrastructure Finance Limited 2016 22
GROUP BORROWING PROFILE
IMPROVING SHARE OF RETAIL SEGMENT
CURRENT BORROWING PROFILE
 Currently, the Major source of Funding is Wholesale Funding through Banks.

 Consortium for: Srei BNP Paribas – 37 banks, SREI Infra – 30 banks.
STRATEGY TO REDUCE COST OF FUNDS
 Reducing Cost of Funds through diversifying with Wide Spectrum of Lenders. Exploring new avenue and Increasing the
share of Retail Funding through options like NCDs.
BORROWING PROFILE – SREI BNP BORROWING PROFILE – SREI INFRA

Working Capital
Foreign 53%
Currency Debenture
Loans 5%
Domestic Term Debenture
Loans 9%
13%
15%
Foreign
Currency Loans
Subordinates 6%
10%
Working
Capital
Others
61%
Domestic Term 3%
Loans Subordinates
17% 8%

PROJECT FINANCE
LOAN BOOK ANALYSIS
Loan Book – Sectoral Breakup Power - 32%

120%
100% Generation - 30% T&D - 2%

4% 6% 4% 5%
20% 20% 22% 21%

80%
5% 5%
4% 4% Operational - 18% Under Construction - 12%
8% 10%
12% 12%
60%
30% 26%
27% 26%
40%
Captive - 6%
20% Renewable - 1% IPP/Merchant – 5%

33% 30% 33% 32%
0%
Mar 14 Mar 15 Dec-15 Mar 16
Captive Fuel – 2.6% Linkage Coal / Gas – 2.4
Power Transportation
Communication Oil & Gas
Social & Commercial Infra Others

EQUITY INVESTMENTS
PORTFOLIO SUMMARY
Rs.crs
Summary of Investments
Particulars Value (Value (Rs crs)

Investment in Subsidiaries/JV 680
*
Strategic Investment
#
Communic ation 1598
Transportation 307
Energy 15
Rural IT 13
Others 123
Total Strategic Investment 2056
Treasury Stock (Srei Holding) @ 19
Equity Investment-Quoted 2
Equity Investment-Unquoted 0
Other Equity Investment 2
Total Non- Current Investment 2757
* Investments held directly or through funds
@ Treasury Stock represents stock of Srei (48.6 mn shares) held by a trust on behalf of the company.
The present market value of these shares is approximately Rs. 268 crs.
# Divested in April 2016
@ As on 31st Mar, 2016
STRATEGIC INVESTMENTS
 TRANSPORTATION – ROAD BOT PORTFOLIO

 SOCIAL RURAL – SAHAJ
 SEZ/INDUSTRIAL PARK
 ENVIRONMENT MANAGEMENT
BOT ROAD ASSETS PORTFOLIO
SUMMARY
WELL DIVERSIFIED PORTFOLIO
 Execution Experience spread across 14 Road Projects on BOT/Annuity with over 5,400 lane Kms of Road Projects across India
 Well diversified BOT Asset Portfolio spread across 7 states such as Madhya Pradesh, Maharashtra, Uttar Pradesh, Kerala, Arunachal
Pradesh, Odisha & Haryana.
STRONG ANNUITY CASH FLOWS

 Out of Total 8 Projects in which Srei has significant economic interest, 5 projects are already operational with cumulative Annual
Gross Revenue of more than Rs. 383 crs for the year ended 31st March 2016.
 One BOT project became operational in June ’15 and another project is expected to be fully operational by Sept 2016, thus
resulting into strong Revenue growth & further Improved Cash Flows.
% State Wise BOT Portfolio (Lane Km) Road BOT Asset Portfolio
Total No of Projects* 8
Arunachal Pradesh No of Projects – Operational 5
Kerala No of Projects - Under Construction 3
12%
25% Madhya Pradesh
Total Lane Kms 3,264
23% Haryana Lane Km – Operational 1,690
8%
Uttar Pradesh Lane Km – Under Construction 1,574
6%
15% 10% Odisha
Gross Revenue Realized per Lane km
Maharashtra 0.064 crs
(for Q4FY16)
* Projects where the Company has Significant stake

SIGNIFICANT OPERATIONAL ASSETS
6 Laning of
4/6 Laning of 4 Laning of 4/6 Laning of
4 Laning of Chandikhole
Thirssur - Rohtak-Bawal Gaziabad-
Particulars Indore – Ujjain Bhubaneswar
Angamali, section of Aligarh Section
Road on SH-27 Section
NH-47 NH-71 of NH – 91
of NH-5
Project Cost (Rs.crs) 726 331 1,043 2,198 1,767
Project Type Toll Toll Toll Toll Toll
Concession Period as per CA

22 25 28 24 26
(Yrs)
Project Road Length (Km) 65 49 83 125 67
Project Lane Km 260 196 332 500 402
State Kerala Madhya Pradesh Haryana Uttar Pradesh Odisha
Awarding Authority NHAI MPRDC NHAI NHAI NHAI
Project COD Dec-11 Nov-10 Sep-13 Jun-15# Jun-16*
• * 4 / 6 laning project, tolling started from the Appointed Date . Provisional COD expected on Jun16
• # Partial COD achieved. Full COD expected on Sep 16
SIGNIFICANT OPERATIONAL ASSETS
Total Toll Collection (Rs Crs)
150
98 105 108
100 66 72 72
61 60
50
0
Q1 FY15 Q2FY15 Q3FY15 Q4FY15 Q1 FY16 Q2FY16 Q3FY16 Q4FY16
TOLL Chandikhole Ghaziabad-

Thirssur Indore – Ujjain Rohtak-Bawal
COLLECTIION Bhubaneswar Aligarh Section Total
Angamali, NH-47 Road on SH-27 section of NH-71
(Rs.crs) Section of NH-5 of NH – 91
Q1FY15 21 6 19 15 - 61
Q2 FY15 22 5 18 15 - 60
Q3 FY15 24 6 19 17 - 66
Q4 FY15 28 6 20 18 - 72
Q1 FY16 25 6 20 18 3* 72
Q2FY16 25 5 20 17 31 98
Q3FY16 25 6 21 20 33 105
Q4FY16 26 6 23 20 34 108
* Toll commenced on 25th June 2015

UNDER CONSTRUCTION ASSETS
4 Laning of Solapur
2/4 Laning of Rimuli- 2 Laning of Potin
Maharashtra/
Particulars Roxy-Rajamunda Pangin Section of
Karnataka Border
Section of NH 215 NH-229
Section of NH-9
Project Cost (Rs.crs) 972 883 1662
Project Type Toll Toll Annuity
Concession Period as per CA (Yrs) 19 25 17
Project Road Length (Km) 96 100 407
Project Lane Km 360 400 814
State Odisha Maharashtra Arunachal Pradesh
Awarding Authority NHAI NHAI MoRTH
54 months from
Project COD June-18 June-17
appointed date


SAHAJ
LARGEST RURAL RETAIL CHAIN IN THE COUNTRY FOCUSSING ON
DELIVERING PRODUCTS & SERVICES TO RURAL CONSUMERS
Largest Brick & Click Network in the country EXTENSIVE RURAL DISTRIBUTION PLATFORM
• 40,768 touch points across 12 states – Assam, Bihar, Odisha, Tamil

Nadu, West Bengal, Uttar Pradesh, Maharashtra, Rajasthan, Himachal,
Jharkhand, Delhi, Tripura and expanding pan India to 25 states
• Covering 400 mn people (44% of India’s rural population)
Technology Leveraging Operating Model 7
• Robust technology platform offering real-time connectivity, efficient & 2

quick service delivery
36 15202 3584
Wide offering of Products & Services 7897
• Wide Bouquet of Products & Services across G2C, BFSI, B2C, 5 1
Education services, FMCG & CDIT. 8247
• Unique capture of demographic & psychographic data at rural
consumer level 3881
Operating Model for Growth- 3 Pronged Approach 11
• Existing business – add growth by

width
• New business – for exponential
Increasing
growth Pull demand
Services Value and
• Bouquet of Services: Volume
 e-Governance – G2C Services, Growth in
Revenue
UID, Bill Collection etc. Increasing 1895
 e-Commerce – Insurance, MF, no of
Touch Increasing per
Financial Inclusion (BC), Mobile & Points Franchisee
DTH recharges, Product sale & Transaction
distribution etc.
 e-Learning
SAHAJ
A UNIQUE BUSINESS MODEL
CLICK & BRICK MODEL SERVICES : One Stop Solution

PRODUCT & SERVICE PROVIDERS
1. e-Governance - G2C Services, UID, Bill Collection, Bus & Rail Tickets
Financial Inclusion Basic Banking, micro insurance, pensions and savings
etc.
2. e-Commerce – Insurance, MF, Financial Inclusion (BC), Mobile & e-Governance IT Projects and G2C Services
DTH recharges, Product sale & distribution etc
3. e-Learning
Education e-Learning of Computer courses, K-12 Supplementary Learning,
Real time transaction, monitoring
Competitive Exam Preparation, Open Univ. Admissions
and reconciliation
Franchisee/ Health Tele-Consultation
Star Franchisee
@ Retail Outlet Empowerment Skill building and job linkages
Services Aadhar Card, PAN, Voter ID etc
Cash e-Commerce FMCG, CD, Apparel
Village Utility Services Electricity Bills, Mobile/DTH Recharge, Renewals and EMI payments
Products &
End Services B2B Market Research, Rural Activations, OOH
Consumers
BUSINESS MODEL & CHANNEL NETWORK
• All the retail outlets operate as FRANCHISEE@ or STAR FRANCHISEE#

PARAM Slum areas:
• Franchisee manages day-to-day operations. MITR# Remittance+ATM+
OPERATING
• All CAPEX & OPEX are borne by the Franchisee. METRO BFSI + e-Com
MODEL
• Sahaj is responsible for project management, quality assurance,
infrastructure set up, franchisee & its resource training and access to PARAM Consumer Durables
STATE LEVEL MITR & IT (CDIT)/FMCG
new services & content at the retail outlets.
PARAM All services as well as
DISTRICT HQ MITR product distribution;
REVENUE Fixed Revenue Stream
and trained sales force
MODEL • BC - Fixed monthly remuneration from banks . PARAM
(Revenue Variable Revenue Stream - Transaction fee earned from banks, e– TEHSIL/BLOCK MITR
shared Governance and e–Commerce partners /TALUKA
between All Services & Product
• One Time Transactions - e.g. Account Opening, UID Generation. SAHAJ Ordering; and trained
Franchisee & • On Going Transactions - e.g. BC (Deposit/Withdrawal/Remittances), G2C
Sahaj) GP MITR@ sales force
(Utility Bills), B2C (Mobile & DTH Recharges and Sale of Products)
@ FRANCHISEE– Retail outlet at Gram Panchayat and Village level in each State and known as SAHAJ MITR in local parlance
# STAR FRANCHISEE – Retail outlet at Metros and also at District HQ and Tehsil level – Hub centres which can also serve as logistics and distribution partner and known as PARAM MITR in local parlance
SAHAJ
KEY ALLIANCE PARTNERS


SEZ & INDUSTRIAL PARKS
KEY HIGHLIGHTS
Srei ventured into greenfield development of Special Economic Zones and Industrial
Parks in 2008-09 to capitalise on India’s growing need for rapid industrial growth
Services & Education City , Mumbai ( Attivo Economic Zone,

Mumbai )
• Biotech , IT / ITeS SEZ , residential units , commercial ,resort , etc, located
on Alibag - Mumbai Road
• 60 Km from south Mumbai.
• Total Project Area: 350 acres (Phase 1)
• Acquired Area : 345 acres
Industrial Park, Kharagpur ( Attivo Economic Zone, Kolkata)

• Industrial Park near Kharagpur, West Bengal.
• In partnership with West Bengal Industrial Infrastructure Development
Corporation (WBIIDC).
• Total Project Area: 325 acres
• Acquired Area : 128 acres
Multi Product SEZ at Nanguneri, Tamil Nadu ( AMRL Hitech

City )
• The total project area: 2518 acres.
• 1,700 acres for industrial processing zone.
• 818 acres for residential township / commercial and other non-processing
activities.
• Phase 1 – 1104 acres launched
• Fully acquired


ENVIRONMENT MANAGEMENT
KEY HIGHLIGHTS
Srei “Swach” project provides an integrated solution to water and waste water
management, solid waste management and recycling
Business Model
• Provides cutting edge solutions with world class technology to
water and waste water management, solid waste management and
recycling to both public and private sectors
Project Under Implementation
• Awarded with the prestigious Nangloi Water Supply (PPP) contract

in Delhi, in partnership with JV partner Veolia Water
• The contract is of 15 years and around $ 85 million will be invested
in the water treatment and distribution system.
• Project taken over during Sept 2013 from Delhi Jal Board (DJB)
and is under implementation
Global Technology Partners

SREI INFRASTRUCTURE
CONSOLIDATED BALANCE SHEET OVERVIEW
Net Worth 3,231 3,174

Interest Earning Assets 21,998 20,742
Investments 2,170 2,250
Other Assets 247 1,020
Return on Avg. Assets 0.3% 0.5%
Leverage 5.7 5.7
EPS (Rs) (Annualised) 1.4 2.5
Book value (Rs) 64.2 63.1
SREI INFRASTRUCTURE
CONSOLIDATED INCOME STATEMENT HIGHLIGHTS
Income from Finance Activities 2,934 2,960 736 708 719

Income from equip. financing 1,153 1,160 290 282 299
Income from project financing 1,781 1,799 446 426 419
NII 640 699 156 141 152
Non Interest Income
Income from Fee Based Activities 50 161 8 96 6
Income from Equipment Rental 34 152 18 26 5
Income from Investments 2 57 1 51 0
Others 53 45 20 12 12
Net Income 780 1114 202 325 176
Provisions & Write offs 272 487 69 218 53
PBT before Forex M2M 123 202 24 (1) 33
Forex M2M 17 13 (1) (5) 5
PBT 106 188 25 4 28
PAT (after Minority) 73 129 21 14 17
FOR ANY FURTHER QUERIES, PLEASE CONTACT:
Disclaimer
In this communication we have disclosed certain forward-looking
information to enable investors to comprehend our future prospects
and take informed investment decisions. This report and other
statements – written and/or verbal - that we periodically
Sanjeev Sancheti make/publish contain forward-looking statements that set out
anticipated results based on the management's plans and
Chief Strategy Officer assumptions for future growth and development of the organizations.
Srei Infrastructure Finance Ltd. We have tried wherever possible to identify such statements by using
words such as anticipate, estimate, expects, projects, intends, plans,
Tel: + 91 33 6602 3003 believe, and words of similar substance in connection with any
Email: ssancheti@srei.com discussion of future performance.
We do not guarantee, warrant and/or recommend, express or

implied, as to the accuracy or completeness of such assumptions and
that these forward-looking statements will be realized, although we
believe we have been prudent in assumptions which are subject to
dynamic changes. The achievement of results is subject to risks,
Amit Agarwal uncertainties and even inaccurate assumptions. Should known or
unknown risks or uncertainties materialize, or should underlying
AVP – Investor Relations assumptions prove inaccurate, actual results could vary materially
Srei Infrastructure Finance Ltd. from those anticipated, estimated or projected. Prospective investors
are recommended to take there decisions based on interpretations
Tel: + 91 33 6602 3003 and assumption of such published forward looking statements. . We
undertake no obligation to publicly update any forward-looking
Email : amit.agarwal1@srei.com statement, whether as a result of new information, future events or
otherwise. Moreover, neither we or any other company or subsidiary
of the Srei Group, nor any of its officers, directors or employees
accept any liability or responsibility in respect to the information or
any assumptions expressed herein.
The information contained herein has been prepared exclusively for

Ammeet Sabarwal informational purposes and is not an offer or solicitation of an offer to
buy/sell the securities/instruments mentioned or to participate in any
Dickenson Seagull IR trading strategy or an official confirmation. This is not a research but
Mobile: +91 9819576873 it may refer to a research analyst/research report.. Information is
subject to change without notice and we may not update this. Past
Email : ammeet.sabarwal@dickensonworld.com performance is not indicative of future returns. This price information
(if any) is provided solely for informational purposes and may differ
substantially from price information available from other sources or
an actionable price.

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SREI INFRASTRUCTURE FINANCE LIMITED

INVESTOR PRESENTATION MAR 2016

WE ARE PARTNERS IN HELPING BUILD

WE BRING INSIGHT, KNOWLEDGE,

INNOVATION AND PIONEERING

FOCUSED INFRASTRUCTURE SOLUTION PROVIDER

INFRASTRUCTURE EQUIPMENT GROUP INFRASTRUCTURE PROJECT GROUP

CAPITAL MARKETS - INVESTMENT

END TO END INFRASTRUCTURE SOLUTIONS

INFRASTRUCTURE PROJECT GROUP THROUGH VARIOUS PRODUCT OFFERINGS :

Infra Finance – Equity – Significant

INFRASTRUCTURE EQUIPMENT GROUP THROUGH ENTIRE EQUIPMENT LIFECYCLE :

Construction Equipment Valuation

Copyrights © Srei Infrastructure Finance Limited 2016 6

CONSOLIDATED FINANCIALS SHARE PRICE DETAILS

FY16 FY15 As on 31/03/2016 – NSE

Consolidated AUM 36,702 35,387

SHAREHOLDING PATTERN – MAR 2016 INSTITUTIONAL HOLDING – MAR 2016

Dimensional Emerging Markets Value Fund 0.36

Japan Trustee Services Bank 0.22

Figures in Rs. crs Copyrights © Srei Infrastructure Finance Limited 2015 7

Our Credentials - Leading financial institutions have invested in

Copyrights © Srei Infrastructure Finance Limited 2016 8

 Council Member, Indo-German Chamber of Commerce

INFRA EQUIPMENT GROUP INFRA PROJECT GROUP

EQUIPMENT FINANCE - SREI BNP

Key Metric FY16 FY15 Key Metric FY16 FY15

CRAR 17.5% 17.0% FEE BASED

KEY STRATEGIC INVESTMENTS

• Group Disbursement stood at Rs.14,533 crs as compared to Rs. 12,546 crs in

Sustainable Competitive Advantage

SREI - END TO END SOLUTION PROVIDER ACROSS THE VALUE CHAIN

LEVERAGING THE SREI ECO-SYSTEM TO DELIVER……

MANAGING CUSTOMER RELATIONSHIPS THROUGH THE ENTIRE ASSET LIFECYCLE

Copyrights © Srei Infrastructure Finance Limited 2016 12

STRONG PEDIGREE Ownership

PRESENCE & TIE-UPs

 Pan-India distribution network of 88 branches including 15 state offices.

LOAN BOOK MARGIN ANALYSIS

RETURN RATIO & CRAR ASSET QUALITY #

25.0% 1.8% 2.0% 6.00%

Copyrights © Srei Infrastructure Finance Limited 2015 14

BRANCH NETWORK ZONE WISE PORTFOLIO SPLIT

March 2015 March 2016

Note 1: Finance Amount

Copyrights © Srei Infrastructure Finance Limited 2015 15

Copyrights © Srei Infrastructure Finance Limited 2015 16

Balance Sheet Summary (Rs crs) FY16 FY15

Interest Earning Assets (incl. securitised) 18,708 18,300

Key Ratios Mar-16 Mar-15

Income Statement (Rs crs) FY16 FY15 Q4 FY16 Q4 FY15 Q3 FY16

Disbursement 9,158 7,719 2,547 1,519 2,639

Key Ratios Mar-16 Mar-15 Dec-15

STRONG PEDIGREE & CREDENTIALS

 More than 2 decades of experience in Infrastructure space.

WIDE SPECTRUM OF PRODUCT OFFERINGS

STRONG FINANCING CAPABILITIES

Copyrights © Srei Infrastructure Finance Limited 2016 19

Srei Infrastructure Finance Ltd

PREFERRED PARTNER FOR MANAGING THE ENTIRE INFRASTRUCTURE PROJECT LIFECYCLE

DEBT MEZZANINE EQUITY ADVISORY

Copyrights © Srei Infrastructure Finance Limited 2016 20

Balance Sheet Summary (Rs crs) FY16 FY15

Interest Earning Assets 14,245 12,822