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2	Table of Contents Jaypee Group Overview Jaiprakash Associates Limited Company Overview Engineering & Construction Cement Build – Own – Operate Hydropower Projects Jaypee Hotels Group Financials 6. Conclusion
3	1. Jaypee Group Overview
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5	History of Group The Jaypee Group has a long, reputable history in the Indian engineering and construction sector as well as many exciting developments in new ventures
6	Corporate Vision Continue to focus on core E&C business with particular focus on hydropower EPC contracts Setting up hydro-electric power projects on Build-Own-Operate basis Increasing cement manufacturing capacities at its existing units to cater to anticipated growth in demand in its natural marketing zone at cost substantially lower than the green field capacity addition
7	Corporate Structure
8	Jaiprakash Associates Limited Shareholding Pattern as on 30^th June, 2004
9	2. Jaiprakash Associates Limited A. Company Overview
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11	Key Strengths of JAL
12	Key Strengths of JAL (cont.)
13	2. Jaiprakash Associates Limited B. Engineering & Construction
14	Strongest Order Book in Hydropower E&C/EPC JAL has been awarded 54.3% of new projects under the 10th 5-year plan
15	Strongest Order Book in Hydropower E&C/EPC (cont’d) JAL has one of the strongest order books in the industry, currently executing 10 hydropower contracts with a total generating capacity of 8,190MW and balance of work worth Rs.8,600 Crores to be completed in the next 6 years
16	E&C Business Overview Jaiprakash Associates Limited (“JAL”) is a leader in the construction of multi-purpose river valley and hydropower projects and has been involved in construction of major engineering projects over the last four decades JAL’s expertise in management of large construction contracts is widely acknowledged and is further confirmed by the highest contractor rating by IRCA of CR1
17	Development of Indian Power Infrastructure
18	Ministry of Power 5-Year Plans The Indian Ministry of Power (“MOP”) has plans to reach a goal of additional 20,000+ MW hydropower capacity during the 11^th Five Year Plan (2007-12).
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20	Vertically Integrated E&C Solutions JAL’s ability to provide complete solutions from concept to implementation, gives it a clear advantage over competitors
21	Established Track Record
22	Superior Cost Control JAL is able to undertake contracts at exceptionally low cost levels without sacrificing quality of execution through its unique cost control measures
23	2. Jaiprakash Associates Limited C. Cement
24	Company Overview JAL is a major player in its natural marketing zone comprising the states of Uttar Pradesh, Madhya Pradesh and Bihar. JCL is also the largest exporter of cement and clinker to Nepal.
25	Central Location Provides Natural Marketing Base
26	Business Strategy JAL’s strategy is to maintain and enhance its leading position within the Indian cement sector Key Strategies Facility Expansion The cement division is undergoing a multi-pronged capacity expansion plan from 5.0million TPA to 7.0 million TPA, largely through upgrading of the facilities at its existing units Clinker production to increase from 13,900 TPD to 16,900 TPD Thermal Energy consumption across Jaypee Cement is 690 Kcal per tonne Power Consumption across Jaypee Cement is below 85 units per tonne of cement produced The setting up of two captive power units for the cement division has achieved substantial progress and shall result in significant production synergies for Jaypee Cement and result in an overall lower cost of production. 3^rd Captive Power plant (Exp C.O.D in Oct’05) will bring the power cost across Jaypee Cement below Rs 3 per unit 1 million TPA grinding unit at Tanda near Faizabad UP is being commissioned at flyash pond of NTPC to source flyash at zero cost. Locational advantage shall accrue perpetual savings by logistics control 3 million TPA green field project in Himachal Pradesh by 2007 at most competitive cost of installation
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35	Expected Costs of Production Cost reductions will allow JAL to operate in the Santa Cluster with increased competitiveness and profitability
36	3. Build–Own–Operate Hydropower Projects
37	BOO Tariff Structure BOO projects are operated on a cost plus basis, where tariffs and revenue are calculated according to cost of capital, operating expense and generation capability
38	Multiple Payment Security Measures Payment Security over receivables from the State Electricity Board provides a high quality of cashflow The off-taker opens a letter of credit with a bank to secure a line of credit for at least 125% of peak month billing charges The state government has obtained a letter of credit for Baspa – II project Payments are made from an escrow account The off-taker must set up an escrow account through which revenues from identified circles must flow 125% of annual billing must be routed through the escrow account In the event of untimely payment or default by the off-taker, the Company has complete access to the account as recourse for payment Provisions for sufficient hydrology ensure payment in the event of natural events prevent full generation The off-taker must pay capacity and primary energy in line with expected generation capacity in the event of poor hydrology
39	Hydropower Subsidiaries JAL is currently developing and operating 3 separate BOO projects that have been spun-off to become wholly-owned subsidiaries of JAL
40	BOO Projects
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43	4. Jaypee Hotels HOSPITALITY & TOURISM
44	Company Overview JHL a subsidiary of JAL, is involved in setting up and operating international standard hotels. JHL is presently operating four five-Star hotels with over 660 rooms in aggregate.
45	5. Group Financials
46	JAL- Audited Financial Results For The Year Ended 31^st March 2004
47	Audited Segment-wise Revenue, Results and Capital Employed for the Year Ended 31.03.2004
48	UNAUDITED FINANCIAL RESULTS FOR THE FIRST QTR ENDED 30^TH JUNE, 2004
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50	5. Conclusion
51	JAL – Income Statement Projections
52	THANK YOU