GAMMON INDIA LIMITED

FORWARD LOOKING STATEMENTS
All statements contained in this Preliminary Placement Document that are not statements of historical fact
constitute ―forward-looking statements.‖ Investors can generally identify forward-looking statements by
terminology such as ―aim‖, ―anticipate‖, ―believe‖, ―continue‖, ―could‖, ―estimate‖, ―expect‖, ―intend‖, ―may‖,
―objective‖, ―plan‖, ―potential‖, ―project‖, ―pursue‖, ―shall‖, ―should‖, ―will‖, ―would‖, or other words or
phrases of similar import.
All statements regarding the Company‘s expected financial condition and results of operations and business
plans and prospects are forward-looking statements. These forward-looking statements include statements as to
the Company‘s/ its subsidiaries‘ business strategy, revenue and profitability and other matters discussed in this
Preliminary Placement Document that are not historical facts. These forward-looking statements and any other
projections contained in this Preliminary Placement Document (whether made by the Company or any third
party) are predictions and involve known and unknown risks, uncertainties, assumptions and other factors that
may cause the Company‘s/ its subsidiaries‘ actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or implied by such forward-looking
statements or other projections. All forward-looking statements are subject to risks, uncertainties and
assumptions about us that could cause actual results to differ materially from those contemplated by the relevant
forward-looking statement. Important factors that could cause actual results to differ materially from our
expectations include, among others:
general, political, economic, social and business conditions in Indian and other global markets;
our ability to successfully implement our strategy, growth and expansion plans;
competition in the Indian and international markets;
availability of adequate debt and equity financing at reasonable terms;
performance of the Indian debt and equity markets; and
changes in laws and regulations applicable to companies in India, including foreign exchange control
regulations in India.
Important factors that could cause actual results, performance or achievements to differ materially include, but
are not limited to, those discussed under ―Risk Factors‖, ―Business‖ and ―Management‘s Discussion and
Analysis of Financial Condition and Results of Operations‖.
The forward-looking statements contained in this Preliminary Placement Document are based on the beliefs of
management, as well as the assumptions made by and information currently available to management. Although
the Company believes that the expectations reflected in such forward-looking statements are reasonable at this
time, it cannot assure investors that such expectations will prove to be correct. Given these uncertainties,
investors are cautioned not to place undue reliance on such forward-looking statements. If any of these risks and
uncertainties materialize, or if any of the Company‘s underlying assumptions prove to be incorrect, the
Company‘s actual results of operations or financial condition could differ materially from that described herein
as anticipated, believed, estimated or expected. All subsequent forward-looking statements attributable to the
Company are expressly qualified in their entirety by reference to these cautionary statements.
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