Treasury Manager function in Infrastructure sector

Asset liability management Cash management Investments Forex management Risk management market risk, liquidity risk

Investments
Current investments
G-Secs, T-bills (91, 182, 364 days) Short term FDs (34D, 276D, 365D) UBI, Andhra bank, Indian bank Equity instruments Mutual funds

Non-current investments
Government or trust securities Housing & infrastructure bonds NHB, PFC, REC, IDFC, Corporate bonds FCI, SBI, Tata Steel, MRF preference securities Fixed deposits SBT, Canara bank, Corporate bank Associates and subsidiaries Equity of BSE 200 companies

Long term loans and advances

Non-current investments Investment property Investment in equity In associates In housing & infra bonds In debentures In corporate bonds In Government Sec

1,01,104.76 3432 25325 35381 6889 12929 3467 14040

3.05% 3.34% 25% 35% 6.80% 12.70% 3.40% 13.88%

Current investments Investment in equity Investment in mutual funds In T-Bills In housing & infra bonds In Fixed Deposits

32,265.82 365 28706 994 1185 790

1.02% 1.10% 89% 3.08% 3.70% 2.40%

Asset liability Management

Current assets - % of total assets
Cash and bank balances -

Inventories - % of total assets

Land, plots, Construction and development materials 80 % of total inventory

Cash management
Significant chunk of idle cash is invested in fixed income instruments

FOREX MANAGEMENT
The Group uses forward contracts and swaps to hedge its risks associated with fluctuations in foreign currency and interest rates. The use of Forward contracts and Swaps is covered by Groups overall strategy. The Group does not use forward covers and swaps for speculative purposes. As per the strategy of the Group, foreign currency loans are covered by comprehensive hedge, considering the risks associated with the hedging of such loans, which effectively fixes the principal and interest liability of such loans and further there is no additional risk involved post hedging of these loans.

FOREX MANAGEMENT
Forward contracts & Swaps to hedge its risk. The use of Forward contracts and Swaps is covered by Groups overall strategy. foreign currency loans are covered by comprehensive hedge, which effectively fixes the principal and interest liability of such loans. Responsible for investment of forex surpluses.

Real estate Operating cycle

Risk management
Liquidity risk mitigated by investments having different maturity periods across three different time horizons short term, intermediate term and long term Market risk countered by diversifying investments across asset classes