NCC Limited

1 Corporate PresentationAugust 2018 NCC LimitedCopyright 2017 NCC Limited 2 DISCLAIMERNo representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy,completeness or correctness of the information or opinions contained in this presentation. Such information and opinions arein all events not current after the date of this presentation. Certain statements made in this presentation may not be based onhistorical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions ofthe management of NCC, which are expressed in good faith and in their opinion reasonable, including those relating to NCC sgeneral business plans and strategy, its future financial condition and growth prospects and future developments in its industryand its competitive and regulatory statements involve known and unknown risks, uncertainties and other factors, which may cause the actualresults, financial condition, performance or achievements of NCC or industry results to differ materially from the results,financial condition, performance or achievements expressed or implied by such forward-looking statements.

2 Including futurechanges or developments in NCC s business, its competitive environment and political, economic, legal and social , past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors,viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. NCC disclaimsany obligation to update these forward-looking statements to reflect future events or presentation is for general information purposes only, without regard to any specific objectives, financial situations orinformational needs of any particular person. This presentation does notconstitute an offer or invitation to purchase orsubscribe for any securities of NCC by any person in any jurisdiction, including India and the United States. No part of itshould form the basis of or be relied upon in connection with any investmentdecision or any contract or commitment topurchase or subscribe for any securities.

3 NCC may alter, modify or otherwise change in any manner the content of thispresentation, without obligation to notify any person of such change or changes. This presentation shall not be copied ordisseminated in any presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction,including the United States. No part of its should form the basis of or be relieduponinconnectionwithanyinvestmentd ecision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered orsold in the United States without registration under the Securities Act of 1933, as amended, except pursuant to anexemption from registration there from. This presentation is confidential and may not be copied or disseminated, in whole or inpart, and in any mannerCopyright 2017 NCC Limited 3 Table of ContentsPage Overview14 Business Verticals27315 Key Investment Highlights4 Company Strategy29 COMPANY OVERVIEWC opyright 2017 NCC Limited 5 OneofthelargestIndianconstructioncompani esintermsofrevenues Well diversified order bookwith presence across buildings & housing,roads, water & environment, irrigation, electrical, metals, mining andrailways Pan India presencewith offices across 13 cities in key states such asMaharashtra, Andhra Pradesh, Telangana, Karnataka, Gujarat, UttarPradesh,WestBengal,TamilNadu,etc.

4 Experienced Management and skilled workforcewhich includes 5,604employees (including 3,696 Technical), currently executing around 120activesitesatvariouslocations(AsonJun e30,2018) Order Book of INR 328 bnas on June 30, 2018. New orders of INR 42 bnreceiveduptoJune30,2018. ,2018 Keyprojectsexecuted:oAgraLucknowExpressw ays UttarPradeshoESIH ospitalandMedicalCollege,Gulbarga,Karnat akaoOuterringRoad,HyderabadGrowthCorrido r TelanganaoInfrastructuredevelopment,Mini stryofDefence ArunachalPradeshoWaterSupplyProject,Rajk ot Gujarat MajorinvestorshavingstakeintheCompany:oR ekhaandRakeshJhunjhunwalaoRelianceCapita lTrusteeoAdityaBirlaSunlifeoSundaramMutu alFundoUTIO verviewShareholding As on June 30, 2018 Company Snapshot (1/2) , NRIs and , NRIs andOCBsMFs/DIIsBodies CorpIndian PublicCopyright 2017 NCC Limited 6 Revenue contribution from Construction business of NCC (on standalone basis).

5 94% NCC International LLC, Oman & Nagarjuna Construction Co LLC, Dubai Construction 4% NCC Urban Real Estate & Others 2%Company Snapshot (2/2)NCCL Group Revenue As on Ltd (Standalone)Revenue Contribution 94%Subsidiary CompaniesRevenue Contribution 6%Group Business StructureKey Milestones201820172012200520021995199219 901978 Secured 1stMDO OrderNCC set up as partnership firmConverted into Public Limited CompanyInitial Public OfferingTurnover crosses INR 1 bnISO 9001:2000 certifiedTurnover crosses INR 10 Book crosses INR bnBUSINESS VERTICALSC opyright 2017 NCC Limited 8 Diversified operations across various divisions help mitigate business risksIrrigation Dams & Reservoirs Canals Tunnels Barrages, Spillways and AqueductsRoads Highways Highway realignment and Bypass Carriageway widening and strengtheningWater & Environment Water supply projects Water treatment plants Distribution networks Underground drainages Lift irrigation schemesElectrical Transmission and distribution lines and sub stations Project electrification System Improvement ProjectsBuilding & Housing Industrial buildings Commercial buildings Housing projects IT Parks Shopping malls Sports complexes Hospitals Bridges.

6 Flyovers and elevated corridorsInternational Roads Buildings Water pipelinesOthers Power Oil & Gas Metals OthersMining Overburden removal Coal excavation MDOR ailways Track Laying Signaling and Communication Railway SidingOperating DivisionsCopyright 2017 NCC Limited 9 Building & HousingDetails of Major Projects CompletedProject NameLocationProject Cost(INR bn)ESIC Hospital & Medical CollegeGulbarga, Development Works, Ministry of DefenceArunachal Hospital Bihar Gandhi Institute of Petroleum TechnologyUttar of Major Projects Under ExecutionProject NameLocationProject Cost(INR bn)Housing Projects (7) APTIDCO, 7 Locations inAP Project NBCC,New Authority of India, Lucknow Uttar Package 1 & InfratechServices, Noida( AIIMS Bathinda) Metro Rail Project UP Hsg& Devt. Board Uttar ClienteleOrder Book (As on June 30, 2018)Building & Housing, NameUttar Pradesh Housing & Development BoardAirport Authority of IndiaNagpur Metro Rail Corporation LimitedBangalore Metro Rail Corporation,Lucknow Development AuthorityIndian Institute of ManagementINR bnCopyright 2017 NCC Limited 10 Water & EnvironmentDetails of Major Projects CompletedProject NameLocationProject Cost(INR bn)Water Supply Project SauniYojana Package Supply Project SauniYojna Package supply project supply project NameLocationProject Cost(INR bn)Water Supply Project Rangareddy, Supply Project SauniYojanaLink 4, Pkg6) Supply project Warn gal Supply project HMWSSB ClienteleOrder Book (As on June 30, 2018)

7 Water & Environment, of Major Projects Under ExecutionClient NameGujarat Water Supply and Sewerage BoardHyderabad Metropolitan Water Supply and Sewerage BoardChennai Metropolitan Water Supply and Sewerage BoardGovtof Telangana Public Health Engineering Department,RajasthanPublic Works Departments, Government of West BengalINR bnCopyright 2017 NCC Limited 11 RoadsDetails of Major Projects CompletedProject NameLocationProject Cost(INR bn)Agra LucknowExpresswaysUttar ring Road Project packageII & NameLocationProject Cost(INR bn)Bihar RajyaPal NirmanNigam LtdChapratown of District City Development and Management CorporationAndhra Corporation (6)Andhra Pradesh ClienteleOrder Book (As on June 30, 2018)Roads, of Major Projects Under ExecutionClient NameNational Highways Authority of India UP Expressways Industrial Development AuthorityCapital City Development and Management Corporation,vijayawadaAmaravatiDevelopme nt CorporationHyderabad Growth Corridor LimitedINR bnCopyright 2017 NCC Limited 12 IrrigationDetails of Major Projects CompletedProject NameLocationProject Cost(INR bn)GandakCanal Sarovar Narmada Nigam Ltd.

8 Resources Dept. of Major Projects Under ExecutionProject NameLocationProject Cost(INR bn)Lift Irrigation Project (PRLIS)Telangana projectChattisgarh of Reservoir project BaswapurTelangana Midpennar South CanalAndhra ClienteleOrder Book (As on June 30, 2018)Irrigation, NameSardar Sarovar Narmada Nigam LimitedWater Resources Department, Govt. of Bihar Water Resources Department, Govt. of ChattisgarhGovt. of Andhra Pradesh, Water resources departmentINR bnCopyright 2017 NCC Limited 13 ElectricalDetails of Major Projects CompletedProject NameLocationProject Cost(INR bn)TG&D CorpnLtd, Chennai RGGY Phase II Allahabad Uttar Grid 01 & TW of Major Projects Under ExecutionProject NameLocationProject Cost(INR bn)PVVNL, Varansi Saubhagya Mizapur Uttar Saubhagya MeerutUttar Saubhagya BaharchiUttar Saubhagya MathuraUttar BijiliVitranNigam Limited , ClienteleOrder Book (As on June 30, 2018)

9 Electrical, NamePurvanchalvidyutVitranNigam Limited Dakshinanchal Vidyut Vitran Nigam LimitedMadhyanchalVidyutVitranNigam LimitedWest Bengal State Electricity Distribution Co LtdJharkhand BijiliVitranNigam LimitedPower Grid LtdMaharashtra State Road Development Corporation LtdINR bnCopyright 2017 NCC Limited 14 Pan India PresenceHyderabadAhmadabadBangaloreBhopa lKolkataChennaiDelhiBhubaneswarMumbaiVij ayawadaKochiLucknowRanchiRegional offices controlled by Directors and / or senior management facilitate efficient and timely decision makingKEY INVESTMENT HIGHLIGHTSC opyright 2017 NCC Limited 16 Key Investment HighlightsStrong Execution Track Record1 Diversified Order Book across Industry Segments and Geography2 Robust Financials with Strong Credit Rating3 Professional Board with Strong Corporate Governance4

10 Favorable Industry Dynamics5 More than three decades of experience in completing numerous construction projects acrossroads,buildings,bridges,irrigation &miningetcwithtimelyexecution Robust and regionally diversified order book diversified across24 statesinIndiawithstrongcounterparties Order book of INR 328 bn (as on June 30, 2018) and order book to sales ratio of providesstrongcashflowvisibilityfornext3 years Companyhashadstablefinancialperformancei ntermsofmarginsandreturnmetricsalongwith lowleverage IndiaRatingsand ICRA haveassigned theratingofAinviewofreductioninprincipal repayments,improvingEBITDAM argins,lowerthanexpecteddebtandplansforf urtherassetsale. Boardcomprisingof5 Executive,1 Non executivenon independentand5 Independentdirectors Strong Corporate Governance due to institutional ownership and presenceof independentdirectorsinboard&variouscommi ttees VariousinitiativessuchasBharatMala,Sagar Mala,PradhanMantriAwasYojna,NamamiGangeP rogramme, Freight Corridors, IndustrialCorridors,SmartCities, provide additionalimpetustoConstructionindustryC opyright 2017 NCC Limited 17 Strong Track Record1 Details of Major Projects CompletedDetails of Major Projects Under ExecutionKey ClienteleAbility to Win Large ProjectsDemonstrated ability to bid for and win large projects Outer ring Road Projects in AmaravthiCapital city, AP: INR bn(two packages) Andhra Pradesh Township Infra Development Corporation.