This document provides an overview of the Indian real estate industry and Unitech, a leading real estate company in India. It discusses the key growth drivers for the real estate sector in India and gives an overview of Unitech's business model, strategy, and portfolio across residential, commercial, retail, and other segments. Unitech has a diversified portfolio of ongoing and upcoming residential and commercial projects across major cities in India with a focus on the National Capital Region. It utilizes a capital efficient business model and maintains high quality and standards.

2. CONTENTS
• Indian Real Estate Industry
• Overview of Unitech
• Business Model
• Business Strategy
• Business Segments
• Residential
• Commercial
• Retail
• Entertainment
• Hospitality
• SEZs
• Other Businesses
• Development Plan
• Key Strengths
• Financials

4. REAL ESTATE IN INDIA IS POISED FOR STRONG GROWTH
• Real Estate is emerging as one of the India’s fastest growing sectors
• The Industry could grow from US$12 billion in 2005 to US$45-50 billion in 2010
• Potential for superior growth of the industry leaders
KEY DEMAND DRIVERS
Residential Office/ IT Parks Retail Hotel SEZ’s
• Demographics • Most attractive • India is the most • Buoyant • Govt. introduced
destination for attractive retail economic SEZ policy to
• Urbanization
IT & ITeS destination growth & FDI boost economic
• Rising Income services driving business activity/exports
levels • Organized retail
travel
• Demand from gaining share • Transformational
• Access to other sectors is • India expected opportunity for
finance • Relaxation of FDI
growing to be among top real estate
regime
• Fiscal incentives tourist developers
destinations by
• Self-built to 2020
developer built
homes Source: JLL, Merrill Lynch, Research Reports

6. OVERVIEW OF UNITECH
• India’s leading real estate company; market capitalization of over US $ 11 bn. Listed for
over 2 decades. Cumulative capital raised – less than US $ 10 mn.
• Over three decades of experience in Indian Infrastructure and real estate development
• Leading player in the National Capital Region (NCR) and Kolkata markets. Fast establishing a
strong presence in other major cities such as Chennai, Hyderabad, Kochi etc.
• Most Diversified Product Mix – Residential, Office/IT Parks, Retail Malls, Amusement Parks,
Hotels/Convention Centre and SEZs
• Geographically diversified land reserves of nearly 10,700 acres with a developable area of
approximately 500 million sq.ft
• Employee strength of over 1800 including approximately 600 engineers, architects and
management professionals
• Strong relationship with global leaders who are occupants of its developed properties
• Relationships with internationally acclaimed architects and design consultants/groups
including HOK(USA), Callison(USA) and RMJM(UK).

7. OUR BUSINESS MODEL – CAPITAL EFFICIENT
Spanning across all segments of real estate
Segment Approach Differentiators
• Strategic locations
• Acquire, develop, brand, sell world class homes
Residential • Superior quality
• Townships and Group Housing
• Customer delight
• Acquire land, develop, rent, sell • Marquee customers
• Focus on IT, ITeS • Global standards
Commercial
• Built to suit, customized, multi-tenanted • Efficient capital rotation
• One-of-its-kind family entertainment model • Unmet market demand
Entertainment
• Exclusive international arrangements • Strong valuable niche
• Acquire land, develop, bring in anchor tenant,
• Creative business formats
hold/sell
• Leveraging relationships for quality
Retail • Focus on quality, mall management, preferred anchor
in niche segments
relationships
• Acquire land, develop, enhance value, hold, sell
• Partnerships with global brands
• Build a portfolio of budget, 4 star, serviced
Hotels • Create sustainable value
apartments, resorts, etc.
• Acquire land bank, build infrastructure/linkages, • Strategic locations
SEZs
bring in occupiers/ tenants, enhance value • Relationships

8. BUSINESS STRATEGY
• Achieve a high growth by establishing a pan India presence
with focus on markets experiencing strong economic
activity
• Focus on high value added activities of the real estate
value chain; quick recycling of capital to maximize returns
• Land bank acquisition - Early identification of potential
growth areas. Focus on suburbs of key towns and cities.
Avoid open auction process
• Focus on residential segment while having a diversified
product portfolio.
• Create a ‘destination’ by undertaking large mixed use
projects in the suburbs of cities
• Maintain edge in product design and quality
• Develop and nurture relationships with all stakeholders
• Attract and retain high quality talent

9. RESIDENTIAL PROJECTS
• Diverse portfolio of residential products across India
• Apartment Complexes
• Villa Developments
• Golf Course Communities
• Developed Plots
• “Unitech” - a trusted brand name
• Superior designs and benchmarking of projects to
International Standards
• High level of customer satisfaction
• “Superbrand” title in 2004
• Premium over neighbouring developments
• Leadership in new markets – Kolkata a prime example
• Focus on middle & upper middle income group

10. RESIDENTIAL PROJECTS – Ongoing Projects
Project Location Type Approx. Area (in mn sqft)
Close Gurgaon Multi-Storeyed 3.0
Uniworld Spa Gurgaon Multi-Storeyed 1.7
Fresco Gurgaon Multi-Storeyed 1.6
Uniworld Garden Gurgaon Multi-Storeyed 1.0
Espace Gurgaon Villas 1.1
Harmony Gurgaon Multi-Storeyed 1.1
Escape Gurgaon Multi-Storeyed 0.7
Horizon Greater Noida Multi-Storeyed 2.3
Habitat Greater Noida Multi-Storeyed 2.0
Heights Greater Noida Multi-Storeyed 0.7
Cascades Greater Noida Multi-Storeyed 0.8
Uniworld City Greater Noida Multi-Storeyed 7.0
Uniworld City Kolkata Multi-Storeyed 4.2
Other Ongoing Projects 4.0
Total 32.0

11. RESIDENTIAL PROJECTS – Upcoming Projects
Project Location Type Approx. Land Area
(in acres)
Unitech Grande Noida Multi-Storeyed 340
Uniworld Resorts Gurgaon Township 189
Uniworld City Kolkata Multi-Storeyed 55
Oasis Chennai Multi-Storeyed 45
Oasis Hyderabad Township 120
Total 749

12. RESIDENTIAL PROJECTS

13. COMMERCIAL PROJECTS
• Unitech enjoys a leading position in the Grade A office market in the NCR, esp. Gurgaon with over
3mn sq ft of completed development
• Marquee clients including Fidelity, Master Card, Hewlett Packard, Gillette, Hewitt, Vertex, Keane,
Convergys, EDS
• Existing occupants prefer to lease additional space from Unitech
• Mix of various office types
• Built-to-suit (e.g. leading international consulting firm)
• Customized facilities
• Multi-tenanted
• Prime Locations near commercial heart of Gurgaon & other cities
• Completed Development: Signature towers, Unitech Business Park, Cyber Park
• Accelerating business from new clients
• World-class standards – renowned architects, efficient and elegant designs
• Campus developments – scale-up options to clients
• Value additions: common amenities, maintenance, risk and disaster management etc.,

14. COMMERCIAL PROJECTS

15. OVERVIEW – UNITECH CORPORATE PARKS PLC
• Isle of Man company investing in Indian real estate, primarily focused on Information
Technology (“IT”) Parks/IT Special Economic Zone (“SEZ”) developments
• Fully seeded portfolio
• Majority stake in all seed portfolio assets
• High quality seed portfolio
• Over 21 mn sq.ft of leasable area
• Strategic location of seed assets
• Highly visible development plan – construction already commenced in 4/6
properties
• Right of First Refusal on future Unitech IT Parks/IT SEZ developments with a
projected built up area of more than 1 mn sqft
• Unitech to co-invest in all projects along with UCP
• Access to local knowledge and superior execution capabilities through investment
management and project management relationship with Unitech and affiliates
• Experienced board with majority of independent directors
• Intends to target developments which it believes could generate a project level IRR
of at least 25%

16. Unitech
Corporate UCP-Corporate Structure
Parks Plc • The corporate structure provides significant
Isle of Man
tax and regulatory benefits
Nectrus Ltd.
(Investment
Advisor)
• The structure enhances the flexibility for
Cyprus UCP to exit through shares of Mauritius
Investment Management SPVs or India SPVs
Agreement Candor
Investments 100% -
Mauritius • Opportunities to exit to international or
Limited
Indian investors
Tulipa Acacia Sparrow Myna
• Other benefits include
Gladiolys Dotterel
Investment Properties Properties Holdings
Realty Inc Estates Inc
s Inc Inc ltd. Ltd.
• No capital gain on sale of shares of
60% 60% 60%
-
60% 60% 60% Indian/Mauritius SPVs
- - - - -
India
• Dividend distribution tax in Indian SPVs
G1 – ITC G2 – IST N1 N2 N3 K1 can be partially offset in Mauritius
SPVs
40% 40% 40% 40% 40% 40%
• No obligation on UCP to register for
Unitech or Affiliates
VAT as the principal activity is to invest
in subsidiaries

17. HIGH QUALITY FULLY SEEDED PORTFOLIO WITH FUTURE AVENUES FOR GROWTH
Strategic location • All seed assets located in prime sub-urban locations
within micro-markets • Excellent proximity to major vehicular arteries
• All seed assets designed by internationally acclaimed architects
State of the art
• Project specifications meet needs of top tier tenants
architecture
• Modular development and scale attractive to growing tenants
• Four of the six seed assets have already achieved ground breaking
• Remaining projects underway shortly
Highly visible
development plan • All Construction expected to be complete by April 2010 subject to receipt
of all necessary approvals
• Superior transparency and understandability of assets
• Right of first refusal on future Unitech IT parks/IT SEZ developments
Future avenues to with a projected built up area of more than 1 million sq ft
portfolio growth
• New markets may include Chennai, Hyderabad and Kochi

18. SUMMARY OF SEED PORTFOLIO
Seed Portfolio Assets – Snapshot
Office Area (sq
Name Description Micro Market ft) Retail Area (sq ft) SEZ Status
G1 – ITC IT Park built over 24.7 acres in close Gurgaon (NCR) 3,213,737 50,000 Forma approval from Board of
proximity to NH - 8 Approval
G2 – IST IT Park built over 28.4 acres on old Delhi Gurgaon (NCR) 3,699,076 50,000 Formal approval from Board of
Gurgaon Highway Approval
N1 IT Park built over 19.3 acres in Sector Noida (NCR) 1,971,590 60,000 Non-SEZ
62, Noida
N2 IT Park built over 29.7 acres in Sector Noida (NCR) 3,069,177 60,000 Formal Approval from board of
135, Noida approval
N3 IT Park built over 50.0 acres in Greater Greater Noida 4,847,055 100,000 Formal Approval from board of
Noida (NCR) approval
K1 IT Park built over 45.4 acres in Kolkata Kolkata 4,250,773 100,000 Formal Approval from board of
approval
Total 197.5 acres 21,051,408 420,000
Note: Given areas are estimates and are subject to change

19. INVESTMENT POLICY
INVESTMENT DEVELOPMENT EXIT/REINVESTMENT
• Invest in FDI compliant IT • Unitech affiliate to be • Company will target exit
park and IT SEZ responsible for development through sale of shares at India
development projects and leasing or Mauritius level or sale of
assets
• Focus on established/ • Board to monitor
upcoming IT hubs performance to ensure – Potential buyers include
minimum deviation from REITs, international
• Will acquire majority stake in
business plan institutional investors and
assets
property funds, and possibly
• All developments to exhibit
• Co-investment by Unitech in Unitech or other Indian real
high quality design
all assets estate companies
standards
• ROFR over applicable • Exit and reinvestment/
• Timely completion targeted
projects distribution decisions will
by leverage of internal
consider
expertise and relationships
with high quality vendors – Maximization of value
• High quality tenants sourced – Return expectations
through existing network
– Alternative investment
and Unitech reputation
opportunities
– Regulatory framework

20. INVESTMENT MANAGEMENT TERMS
• The company will have an initial offering period of 8 years. The life may be extended by
• A majority vote of the Board or
• Special resolution of the shareholders (75% majority)
Company Term
• The renewal period may be 1-3 years and the Company’s operating shall not extend
beyond year 12
• The net returns made by the Company will be available for reinvestment
Re-investment and
Distribution • The Board will determine the dividend/distribution policy and will consider making
distributions after the first 3 years of the Company’s life
• The Company will invest as a majority shareholder but shall not invest in excess of 74% of the
equity in any project
Corporate Governance • Unitech will maintain a minimum 26% equity stake in any project in which Company is invested
• The Company will have a Right of First Refusal for all Unitech qualifying IT Park and IT SEZ
development projects with a minimum expected built up area of 1 mn sq. ft.
• Majority of the board of directors will be independent

21. INVESTMENT MANAGEMENT TERMS
Management Fees • The Asset Manager will be paid quarterly in arrears fees of 0.50% (2.0% annually) of the
Company’s average invested equity capital on the applicable historical cost basis
• The First Performance Benchmark (FPB) of the Company will be a 10% Project IRR and
the Second Performance Benchmark (SPB) of the Company will be a 20% Project IRR
• The Asset Manager will receive a Performance Fee from the Company of 20% of the net
cash flow generated in excess of the FPB up to the SPB and 30% of net cash flow
generated in excess of the SPB
• Upon sale of an asset, 75% of the Performance Fee will be paid immediately and 25% will
Performance Fees
be held in escrow
• At the end of the Company’s life, the overall Project IRR for the combined portfolio of
Company investments will be determined and Total Performance Fees Due will be
determined and escrow distributed accordingly
• No clawbacks of Performance Fees previously paid to the Asset Manager

22. RETAIL PROJECTS
• Developed the largest mall in India at Noida – lettable area of
1 mn sqft
• Has a tenant profile that includes almost every major retail
chain in India
• High street lifestyle shopping over 220,000 sqft developed at
Rohini, Delhi
• Tenants includes Levis, Benetton, Addidas, Nike, Bossini,
Liliput, Titan, Gini and Jony, Pantaloon etc.,
• Aggressive plans to develop malls in other markets
• Developing convenience shopping centres as part of township
development.
• Developing International Logistics City – Supply chain
infrastructure for retail

23. ENTERTAINMENT PROJECTS
• Developing some of Asia’s largest amusement parks
• Ideal location and huge market opportunity
• JV partnership provides mix of amusement park operating and
real estate development skills
• Alliance with Turner International for Pogo & Cartoon Network
• Commercial real estate component of Unitech’s amusement
parks provide significant value creation potential
Projects Location Area (Acres)
Entertainment City Noida 147
Adventure Island Delhi 62
Chandigarh Entertainment City Chandigarh 73
Total 282

24. HOSPITALITY PROJECTS
• Target all hotel categories with customized fit-to-market offerings:
• Luxury Business Hotels
• Serviced Apartments
• Resorts
• Limited Service Hotels (Management/ Franchisee)
• Our hotel strategy will be focused on building hotels as an integrated part of our
real estate projects
• Unitech will focus on hotel development and construction
• Internationally recognized operators will manage hotels/ resorts
• Initially target key metro markets and select other cities
• Signed agreement with Marriott for 832 rooms in the next 3 years
• In dialogue for additional properties with Marriott/ other hotel chains
• Brand Neutral – Maximize exit valuations
• Land available for developing 28 hotels/serviced apartments

25. HOSPITALITY PROJECTS

26. SPECIAL ECONOMIC ZONES - SEZs
• Unitech is working closely with various state governments to
develop SEZs across the country
• Unitech is focusing on developing multi-product SEZ’s and also
sector specific SEZ’s (IT/Auto)
• Unitech has received an in-principle approval for development of
Multi-Product SEZ at Kundli, Haryana over 9884 acres. It is
expandable to 20,000 acres
• Unitech is part of the consortium New Kolkata International
Development Pvt. Ltd. which signed an agreement with Government
of West Bengal for developing 2 SEZs at Haldia – Petrochemical
SEZ over 10,000 acres and a multi-product SEZ over 12,500 acres
• Unitech has received an in-principle approval for development of an
Auto component SEZ in Gurgaon over 250 acres
• In-principle approval received for developing an Apparel SEZ in
Gurgaon in over 250 acres

27. OTHER AREAS OF BUSINESS
• Infrastructure development:
• Unitech was among the first players to enter organized Infrastructure
development in India
• Wide experience
• Roads & Highways
• Bridges
• Industrial civil structures
• Power plant chimneys
• Transmission towers & turnkey projects
• Experience across domestic & international projects
• Currently executing only non Unitech projects
• Strong synergies with our real estate business
• Facilities management business through a partnership with Trammell Crow
• Developing golf courses and golf communities

28. DEVELOPMENT PLAN SUMMARY
City/Region Total Land Area Estimated Total Saleable Area
(in Acres) (million sq.ft) (million sq. yard)
NCR 2565 116.40 1.21
Chennai 2085 104.7 1.42
Kolkata 5198 167.06 4,8
Kochi 673 38.34 .40
Hyderabad 359 18.7 .41
Bangalore 103 9.92
Mohali, Chandigarh 423 12.55 .3
Agra 1500 31.36 1.31
Varanasi 1500 34..1 1.6
Siliguri 232 13.0
Total 14638 546.13 11.45
Share of Unitech in land at certain locations is less than 100%. Unitech’s share in total land shown above is approx. 10700 acres

29. STRENGTHS
• Scale of operation and experience in execution of large projects better positions us to identify and
successfully implement new projects
• Ability of the management to identify and procure land parcels in strategic locations with high profitability
prospects
• Unitech is an established brand and is associated with a high level of trust amongst customers and
suppliers.
• Unitech was bestowed upon the title of Super Brand by Super Brand India in September 2004 – one of the
only 100 business brands to be conferred such title in the country
• Unitech’s projects are known for their design, construction and innovation
• Unitech has well qualified and experienced employee base and proven management team. Attracts high
caliber management and technical professionals due to its leadership position and progressive people
practices
• Unitech’s experience and expertise in the construction business can be leveraged to build its real estate
business
• Unitech’s good working relationships with financial institutions, enhances its ability to raise funding for
large projects at competitive rates
• Ability to work and effectively liaise with government agencies to ensure timely completion of projects

30. FINANCIALS (CONSOLIDATED)
FY07 (Rs. in billion) FY06 (Rs. in billion)
Total Income 33.88 9.26
Total Expense 12.87 7.30
Interest 3.02 0.46
Depreciation 0.08 0.11
Profit before Tax 17.92 1.39
Profit after tax 13.06 0.88
Paid Up Equity Capital* 1.62 0.12
Face Value (in Rs)* 2 10
EPS (in Rs.) 16.09 67.33
Reserves (excluding revaluation reserve) 18.80 2.47
Total Debt 39.81 10.45
Total Cash (including investments in liquid
14.30 3.98
instruments