Subsidiaries

BUILDING COMPETITIVE    ADVANTAGE

Gayatri Infra Ventures Ltd.

GIVL is a single holding company of GPL which includes all the SPVs of BOT projects .Currently GPL has portfolio of 5 BOT projects, which comprises of 4 annuity BOT projects and 1 toll BOT project. All the projects have achieved their financial closure and would commence operation from FY11. GIVL has diluted its 29.4 percent stake to AMP Capital Finance Mauritius Ltd., for Rs.1,000 mn, valuing the company at Rs.3,400 mn. Funds would be utilized to meet ongoing needs of existing projects as well as future bids and concessions undertaken by GIVL. AMP Capital will also consider further equity injection of Rs.1,000 mn as and when required by the company.

Gayatri Energy Ventures Private Limited

As a group strategy to expand vertically to other business segments to mitigate the business risk, the company proposes to invest in the power sector through its subsidiary M/s Gayatri Energy Ventures Private Limited. One of our group companies M/s Thermal Powertech Corporation India Limited a step down subsidiary of Gayatri Energy Ventures Pvt Ltd has got permission to establish a 600x2 MW coal based Thermal Power Station at Krishnapatnam, Nellore Dist., Andhra Pradesh. The proposed power plant is near Krishnapatnam (UMPP) and has been allotted 1,400 acres of land in Krishnapatnam district for this purpose. The coal and water linkages have already been tied up and various environment clearances have been secured for the plant. GPL has also signed a power purchase agreement (PPA) with Power Trading Corporation (PTC) for selling 70 percent of power so generated while remaining 30 percent would be sold on merchant basis.