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									                                            January 08

Redevelopment of New Delhi Railway
   Tata Realty and Infrastructure Limited
About TATA Group


                                India's largest business group with diverse business interests in 7 sectors
                                Revenues equivalent to 3.2% of India’s GDP and a Market capitalization of $
                                  62 bn

                                Operations in over 80 countries with International income 65% of group
CONSUMER       INFORMATION        revenue
                                Products and services exported to 85 countries
                                Largest employer in private sector, over 2,70,000 employees
                                Group revenue – FY 2007 Rs 215,414 cr / $ 48 bn

ENGINEERING    CHEMICALS        Group profit – FY 2007 Rs 14,871 cr / $ 3.3 bn

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                         2

    Strong ethics and corporate governance
             Tata Sons has set a strong ethics framework and encouraged the pursuit of highest standards in          corporate

                                         The Tata Group mission is to improve the quality of life of the communities it serves,
                                           through leadership in sectors of national economic significance
                                                    Five core values provide direction to the Tata Group companies
                                                      These values are fully reflected in the way that the companies manage
                   Five Core Values:                   their businesses
                  Understanding, Integrity,
               Responsibility, Excellence, Unity
                                                             Tata Code of Conduct prescribes ethical principles, such as
                                                               Transparency, Respect, and Ethical Business Approach
                 Tata Code of Conduct

                                                                    Tata Sons pursues highest standards in corporate
                                                                     governance through:
                                                                      Experienced Board of Directors
            Strong Corporate Governance
                                                                      Three key Board Committees for greater transparency
                                                                      Group Corporate Center’s overall monitoring

About Tata Realty and Infrastructure (TRIL)


                               Real estate and infrastructure identified as the next new area for growth

                               Tata Realty and Infrastructure Limited (a 100% subsidiary of Tata Sons) –
                                has been set up as a Real Estate and Infrastructure Development company

                               TRIL is the investment advisor for offshore fund – Tata Realty Initiatives Fund
                                (TRIF - 1) with a corpus of US$ 750 Mn for Real Estate projects

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                            5
Focus Areas of TRIL

                              Key Focus Areas for TRIL

                              Real Estate
                               To develop & unlock the value of real estate assets of other Tata companies
                               To develop real estate as per market opportunities

                               Airports, Urban Infrastructure, Surface Transportation, Special Economic
                                Zones (SEZs), Logistic Parks

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                        6
Infrastructure Projects
                               TRIL and Changi have signed an MOU for development of 35 Non Metro
                                Airports in the country. Technical bid already submitted for the first airport.
                               Proposed Metro Airport - Cost around Rs. 10,000 Crores to develop and
                                would handle 40 Mn passengers when completed
                               TRIL would also evaluate the development of airport ventures as and when
                                 announced by the Government of India

                              Logistics Parks
                               TRIL and Jafza have signed a JV for development of Logistics Parks in India
                               Land evaluation / acquisition is already underway for phase - I        (7 strategic
                                 locations identified across the country)

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                                7
Infrastructure Projects

                              Urban Infrastructure

                               TRIL has successfully qualified along with Tata Power and Mitsubishi
                                  Corporation to bid for phase 2 of the Mass Rapid Transit System, Metro Rail
                                  from Charkop to Mankhurd (approximately 32 Km)

                              Special Economic Zones
                               Development of sector specific –SEZ in Andhra Pradesh (323 Acres)
                               Development of Multi-Product SEZ in Maharashtra (3000 Acres)
                                 Multi Product SEZ in Orissa

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                          8
Infrastructure Projects

                               IT Parks and Campuses

                                IT SEZ for Tata Consultancy Services, TCS at over 8 locations

                               Location              Area          Location                      Area
                               Hinjewadi, Pune       48 Acres      Technopark, Trivandrum        25 Acres
                               Infocity, Kochi       16 Acres      Garima Park, Ahmedabad        25 Acres
                               Adibatla, Hyderabad   75 Acres      Rajarhat, Kolkata             40 Acres

                               Mangalore             100 Acres     Nagpur                        50 Acres

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                      9
Real Estate Projects

                              Andhra Pradesh
                              • Proposed development of a high end Retail and commercial development in
                                 the Central Business District (CBD) of Hyderabad

                              • Approximately 13 acres site with a proposed mix of commercial and retail

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                     10
Real Estate Projects

                              Tamil Nadu

                               Development of an IT and Telecom campuses

                               MICE resort in Tamil Nadu on 500 acres


                               Development of an IT SEZ

TATA REALTY AND INFRASTRUCTURE LIMITED                                      11
                                         Project Details

                 Redevelopment of New Delhi Railway Station

Project Back Ground

   The Ministry of Railway (MOR), Government of India plans to develop the New Delhi Railway Station
    through Public Private Partnership (PPP)

   MOR has decided to redevelop major railway stations into World Class Stations benchmarked with the
    world’s best stations

    These projects are to be executed with private sector partnership by leveraging the real estate development
    potential in the air space above the station and on railway land around the station

   Twenty two (22) railway stations including New Delhi, Howrah, Chennai, Mumbai CST, Bangalore etc. have
    been selected so far by the MOR for development into world class stations. Development is proposed to be
    undertaken in phases

   The first phase comprises six stations- New Delhi, Patna, Jaipur, Agra, Howrah and Chennai of which New
    Delhi is the first station to be taken up

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                             13
About New Delhi Railway Station

   New Delhi Railway Station is the main railway station in Delhi (capital of India), and is one of the largest
    stations in India

   The station is located in the heart of the city and borders Connaught Place, the prime business center of
    New Delhi

   At present, New Delhi station is handling, on an average, 0.35 million passengers per day who arrive/depart
    by 256 trains including 78 suburban trains

   New Delhi Station is a junction station and accommodates originating, terminating and passing train
    services. The existing Station comprises 12 platforms that vary in length, the longest platform being 610 m
    in length. The station is currently being extended and upon completion will comprise 4 additional platforms
    and an additional fourth foot over bridge

   Government of India has appointed world renowned U.K architect Terry Farrell, who has built Hong Kong’s
    Kowloon Station and London’s MI6 Headquarters, to develop a detail master plan for redevelopment for
    New Delhi Railway Station

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                             14
Scope of Work

   The work would encompass :
       redevelopment and modernization of the infrastructure at the passenger terminal and

       real estate development on about 86 hectares of land comprising the railway station, offices, parking, public
        spaces and commercial development.

   The concessionaire selected through international competitive bidding would undertake the work on Design,
    Build, Finance, Operate and Transfer (“DBFOT”) basis.

   The indicative capital cost of the project is Rs. 5000 crores, excluding the real estate development for
    commercial purpose.

   Additional investment on the real estate development with be approximately Rs. 2500 crores.

   Cushman and Wakefield (Real Estate Consultant) has recently stated that the site is worth USD 2.5 billion
    (Rs. 9,900 crores).

   Real Estate redevelopment of the surrounding railway land, is for approximately 86 hectares. Of this, about
    49 hectares of land area is covered by tracks at station and yard. The air space above such tracks and rest
    of the land will be considered for utilization while developing the master plan.Real Estate development will
    be in four distinct zones for commercial, transport, residential and community usage

   Total Commercial development will be in the range of 4-6 million sq ft

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                                  15
Bidding Process

The two stage bidding process is selected for the award of the project.

Stage 1: Technical Qualification Stage

   The first stage, termed as qualification stage, involves the qualification of the interested parties/consortium,
    who make an application in accordance with the provisions of the qualification document.

   At the end of this stage up to 5 suitable pre-qualified applicants shall be eligible for participation in the next
    stage, termed as bidding stage.

Stage 2: Financial Bid Stage

   Bids will be invited for the Project on the basis of the lowest financial grant required by a Bidder for
    implementing the Project.

   A Bidder may, instead of seeking a Grant, may also offer to pay a premium to the Authority for award of the

   The Grant/ Premium amount shall constitute the sole criteria for evaluation of Bids.

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                                   16
Stage 1: Technical Qualification Stage

   Projects which qualify as:

     Category 1: Project experience on Eligible Projects in passenger terminals and railways sector that

     Category 2: Project experience on Eligible Projects in core sector that qualify

     Category 3: Construction experience on Eligible Projects in passenger terminals and railways sector that

     Category 4: Construction experience on Eligible Projects in core sector that qualify

   For the purpose of this project:

     passenger terminals shall mean railway stations, metro stations, airport terminals and bus terminals; and

     railways sector shall mean tracks, bridges, tunnels, signalling and overhead equipment; and

     core sector shall mean highways, power, telecom, ports, airports other than passenger terminals,
       industrial parks, petroleum and natural gas, pipelines, irrigation, water supply, sewerage and real estate

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                              17
Stage 1: Technical Qualification Stage

   For a project to qualify as eligible project under Category 1 and 2:
       It should have been implemented on BOT, BOLT, BOO, BOOT or other similar PPP basis;

       The entity claiming experience should have held, in the company owning the Eligible Project, a minimum of 26% equity
        during the period for which Eligible Experience is being claimed;

       The capital cost of the project should be more than Rs. 250 crore (Rs. Two hundred and fifty crore only ); and

       The entity claiming experience shall, during the past 5 (five) financial years preceding the Application Due Date, have (i)
        commissioned the construction work of the project and paid for it, and/ or (ii) collected and appropriated the revenues of
        such project after commencement of commercial operation.

   For a project to qualify as eligible project under Category 3 and 4:
       the Applicant should have paid for execution of its works or received payments from its client(s) for works executed, fully
        or partially, during the 5 (five) financial years immediately preceding the Application Due Date, and

       only the payments (gross) actually made or received, as the case may be, during such 5 (five) financial years shall qualify
        for purposes of computing the Experience Score.

       However, payments made or received in respect of projects having a capital cost of less than Rs. 250 crore (Rs. two
        hundred and fifty crore only) shall not be reckoned as payments for Eligible Projects.

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                                                18
Stage 1: Financial Qualification Requirement

   The Applicant shall have a minimum Net Worth of Rs.1,000 (one thousand) crore as at the close of the
    preceding financial year.

   In case of a Consortium, the combined technical capability and net worth of those members, who
    have an equity share of at least 26% each in such Consortium, should satisfy the above conditions
    of eligibility.

   Thus there will be a maximum of 3 consortium partners whose technical and financial capabilities can be

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                        19
Method to Compute the Technical Score

   a) For every eligible project, calculate the capital expenditure incurred and revenue appropriated from such
       project in last five years

   b) Summation of all the eligible scores will give the final technical score from the company

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                            20
Consortium Structure

   In a consortium, for a member’s technical and financial score to qualify ,it has to have at least 26%

   Thus the number of members who can contribute to technical and financial score will be a maximum of

                                         Consortium Structure

      Tata Realty and
                                              Member 1                           Member 2
                                                 26%                                26%

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                      21
Unique opportunity

   Apart from modernisation of the railway station, the real estate development rights on approximately 86
    hectares are on offer.

   This poses a one off opportunity to own a legally clear commercially developable real estate in the heart of
    the capital.

   As per the current real estate scenario, the current commercial capital value in Conought Place is
    approximately Rs. 30,000 – Rs, 45,000 per sq ft (USD 750 – USD 1100 per sq ft).

   Due to unavailability of any private land in the vicinity, the developer of the subject site will command a huge
    location and real estate stock advantage.

   Current passenger traffic of approximately 0.35 million people a day, providing enormous opportunities

   All railway stations in India are in the heart of city thus providing huge upside potential

   Other major railway stations in the country are also on offer on PPP basis in the near term, thus this also
    provides a first mover advantage in this sector.

       The modernization and redevelopment of adjoining lands for railway stations will be one of the
                biggest opportunities in India infrastructure/real estate in the near future

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                                 22
  Time Lines

   Last Date of Receiving Queries                     Jan 25th 2008

   Pre Application Conference                         Feb 8th 2008

   Authority Response to Queries                      Feb 15th 2008

   Application Due Date                               March 14th 2008

In view of the above, the consortium needs to be finalized as soon as possible( by the end of the month)

  TATA REALTY AND INFRASTRUCTURE LIMITED                                                                   23
Information Required

According to the criterion stated in the presentation and the RFQ:

   Details of list of eligible projects according to the criteria mentioned

   For every project :
       Date of commencement of construction

       Date of commencement of operations

       Project Cost on the date of project commencement

       Revenues appropriated from the project in the past five years

       Capital expenditure incurred on the project during the past five years

       Equity in the project and the duration for which equity was held

   Total experience score

   Financial Net Worth (It shall mean the sum of subscribed and paid up equity and reserves from which shall
    be deducted the sum of revaluation reserves, miscellaneous expenditure not written off and accrued

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                          24
Contact Details

   Detailed RFQ and Project Information Memorandum are also attached with the mail.

   Alternately one can download the same from

   Details of Website
       Tata Group:

       Tata Realty and Infrastructure:

    Contact Details in Tata Realty and Infrastructure

    Contact: R.P. Mahajan ,                                     Contact: Abhijeet Maheshwari ,
    Address: Tata Realty and Infrastructure                     Address: Tata Realty and Infrastructure
    Limited , Elphinstone Building,                             Limited , Elphinstone Building,
    2nd Floor, 10 Veer Nariman Road, Fort,                      2nd Floor, 10 Veer Nariman Road, Fort,
    Mumbai - 400 001, India.                                    Mumbai - 400 001, India.
    Tel: +91-22-66294000 Fax: +91-22-                           Tel: +91-22-66294000 Fax: +91-22-
    66290520                                                    66290520
    Email:                                    Email:

TATA REALTY AND INFRASTRUCTURE LIMITED                                                                    25

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