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PRESENTATION OF FINANCIAL, INDUSTRY AND MARKET DATA
Land Reserves
In this Draft Red Herring Prospectus, references to “Land Reserves” are to land for which the registered title is
owned by the Company, its Subsidiaries and third parties that have granted us sole development rights, land
leased or allotted (including provisional allotments) to us by relevant local authorities or in relation to which our
bid has been accepted by the relevant local authorities and land in respect of which the Company or its
Subsidiaries have entered into an agreement or memorandum of understanding to purchase.
Financial Data
Unless stated otherwise, the financial data in this Draft Red Herring Prospectus is derived from our restated
consolidated financial statements, prepared in accordance with Indian GAAP and the ICDR Regulations, which
are included in this Draft Red Herring Prospectus, and set out in ―Financial Statements‖ on page 152. Our
financial year commences on April 1 and ends on March 31.
In this Draft Red Herring Prospectus, any discrepancies in any table between the total and the sums of the
amounts listed are due to rounding off. All decimals have been rounded off to two decimal points.
There are significant differences between Indian GAAP, US GAAP and IFRS. We urge you to consult your own
advisors regarding such differences and their impact on our financial data. Accordingly, the degree to which the
Indian GAAP financial statements included in this Draft Red Herring Prospectus will provide meaningful
information is entirely dependent on the reader‟s level of familiarity with Indian GAAP. Any reliance by
persons not familiar with Indian accounting practices on the financial disclosures presented in this Draft Red
Herring Prospectus should accordingly be limited.
Currency and Units of Presentation
All references to “Rupees” or “Rs.” are to Indian Rupees, the official currency of the Republic of India. All
references to “US$” or United States Dollars are to the official currency of the United States of America. Except
where specified, in this Draft Red Herring Prospectus, all figures have been expressed in “millions”.
Industry and Market Data
Unless stated otherwise, industry and market data used throughout this Draft Red Herring Prospectus has been
obtained from industry publications. Industry publications generally state that the information contained in those
publications has been obtained from sources believed to be reliable but that their accuracy and completeness are
not guaranteed and their reliability cannot be assured. Although we believe that industry data used in this Draft
Red Herring Prospectus is reliable, it has not been independently verified. The extent to which the market and
industry data used in this Draft Red Herring Prospectus is meaningful depends on the reader‟s familiarity with
and understanding of the methodologies used in compiling such data.
Exchange Rates
The following table shows the exchange rate of USD into Rupees:
Year/ Month End Average High Low
Year
2005 43.75 44.95 46.46 43.36
2006 44.61 44.28 46.33 43.30
2007 43.59 45.29 46.95 43.14
2008 39.97 40.24 43.15 39.27
2009 50.95 45.91 52.06 39.89
Month
April, 2009 50.22 50.06 50.53 49.49
May, 2009 47.29 48.53 49.83 47.19
June, 2009 47.87 47.77 48.91 46.84
July, 2009 48.16 48.48 49.40 47.79
August, 2009 48.88 48.34 48.34 48.34
(Source: RBI website as on September 20, 2009)
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