Rolta India

In any era, companies that can lead, companies that can successfully
 transform and master change and keep on leading, reap extraordinary
 rewards. Such companies remain resilient in the face of adversity and
 actually begin to champion change in the marketplace to become leaders.
 Recent events have once again clearly shown that change is a powerful
 business reality and that creating sustainable value is not easy  even
 companies with over 150 years of history have practically ceased to
 exist, overnight.
 
 At Rolta, we believe that building sustainable value is a process of
 successful transformation that happens as we master change, while
 simultaneously leveraging our inherent strengths, in other words 
 retain the best and reinvent the rest.
 
 We consciously build upon our existing strengths and transform each of
 our businesses  so that we continue to move up the value-chain and
 provide a better value proposition to our customers. We continuously
 take advantage of our strong Indian roots to hone and transform our
 offerings for world markets. We ingeniously blend the capabilities of
 our recently acquired technologies with our bank of exceptional IPRs,
 to launch innovative solutions, enabling us to address large markets
 across the globe.
 
 In the geospatial segment, Rolta has been the market leader in India
 for over two decades and is a major services provider, worldwide, in
 sectors, like, infrastructure, telecom, electric, airports, urban
 development, town planning, economic development, elections management
 and environmental protection. With the launch of Geospatial FusionTM,
 high- end photogrammetry and comprehensive imaging technologies, Rolta
 has transformed its geospatial offerings, to now address much larger
 markets, worldwide. For developed markets like the US and Western
 Europe, Geospatial Fusion TM is a very powerful solution, which
 uniquely enables instantaneous fusion of various disparate geospatial &
 non-spatial databases and software applications for generating
 real-time reports and immediate decision-making, thereby increasing
 exponentially, a large organizations ability and speed to access,
 analyze, plan, allocate and monitor resources at all levels. In the
 developing world, for example in India, large investments in core
 infrastructure are expected to create and drive tremendous demand for
 photogrammetry and imaging technologies and geospatial data, as these
 will be required and play an important role for the nations
 development.  With our innovative solutions in these segments, we are
 very well positioned to address large opportunities in India and in
 other parts of the world.
 
 Rolta has been the market leader over the past decade, in providing
 geospatial based operations and intelligence solutions to the
 Indian Armed Forces. Rolta and Thales, France, a world leader in
 mission-critical information systems for the Aerospace, Defense and
 Security markets have established a JV  Rolta Thales Limited (RTL),
 for developing state-of-the- art C4ISTAR solutions, with on-going
 transfer of technology. The availability of these world class military
 technologies, customized to Indian requirements has transformed our
 ability to address huge and key modernization programs of the Indian
 Armed Forces, such as, for  Battlefield Management Systems, Tactical
 Communication Systems and Digital Soldier Systems. RTL has recently
 signed an MoU with Thales for the “Offset” program governed by the
 Indian Ministry of Defense and the Company has also received Defense
 Industrial Licenses for manufacturing of Maritime, Aerospace,
 Electronic Warfare, Optronics and Communications equipment and systems.
 Combined together, these exceptional strengths are further transforming
 Rolta and enabling it to become a potent force in addressing the large
 defense requirements covering the complete sensor-to-shooter chain.
 
 In the engineering and design domain, Rolta has been a market leader in
 India for Engineering Design Automation for over fifteen years and has
 been providing advanced services for basic and detail engineering to
 the oil, gas, refinery, petrochemical, conventional and nuclear power
 sectors. We have now transformed ourselves to address the
 concept-to-completion needs of these sectors by leveraging the
 strengths of our JV with The Shaw Group  Stone & Webster Rolta Limited
 (SWRL). The Shaw Group is a world leader in nuclear power, with a
 dominant share of the US market and is executing multiple projects to
 maintain and build nuclear power plants in China and the US. They also
 have a strategic stake in Westinghouse, a world leader in manufacturing
 nuclear reactors. It is expected that in India, over the next decade,
 both conventional power generation and refining capacities will double.
 It is also envisaged that almost 40,000 MW of power generation capacity
 will be added through nuclear energy in India, due to the NSG waiver
 and the Indo-US nuclear treaty that has been recently signed. Rolta is
 uniquely positioned to capitalize on these huge opportunities - by
 leveraging its well-established presence and the JV it has with The
 Shaw Group.
 
 Perhaps, the most evident transformation that has happened is in our
 Enterprise Information and Communications Technology (E-ICT) business,
 because of acquisitions like TUSC and WHC, which have enabled us to
 gain unsurpassed expertise and reputation and also acquire advanced
 IPRs, such as for data mining, visualization, etc. Rolta has also,
 recently filed a patent for instant SOA, which is pending for grant in
 the US. We now address the enterprise-wide end-to-end needs of
 organizations, with our comprehensive range of solutions and services
 for, large-scale ERP applications, sophisticated database requirements
 and business intelligence. We have also launched mission- critical,
 integration and fusion solutions built around Rolta e-FusionTM.
 Roltas complete transformation of its E-ICT business, its global
 footprint and strong off-shoring model position the Company uniquely,
 in this market segment.
 
 The fundamental reason for our long-term success and recognition is our
 ability to constantly re-invent and transform ourselves and yet remain
 focused on our core competencies. This transformation hasnt gone
 unnoticed. Rolta was recently included in the S&P Global Challengers
 ListTM of 2008 by Standard & Poor. This list identified 300 companies
 worldwide (with a total market capitalization between US $ 1 & 5
 Billion) that have shown the highest growth characteristics, over a 3
 year period. Rolta is one of the two companies from India that have
 made it to this list.
 
 We believe that we will continue to grow significantly, thanks to our
 very strategic positioning in specialized markets i.e. Defense,
 Security, Government and Infrastructure that are expected to remain
 strong for decades. These markets represent some of the most stable
 clients in the world with strong cash flows and the ability to fund
 their own capital investments.
 
 We have a well thought out approach to growth that embraces organic,
 joint venture and inorganic strategies. This approach has helped us in
 building a unique business model and adopting an acquisition policy,
 which is clearly focused on acquiring companies, business divisions
 and/or technologies that are at the cutting-edge, synergistic with our
 lines of businesses, have an established track record, give us access
 to new markets, are culturally compatible, enable Rolta to move up the
 value-chain and are accretive to shareholder value. In line with this
 philosophy, we have made various strategic acquisitions and cohesively
 combined the acquired IPRs and technologies with our existing IPRs, to
 launch innovative solutions, thereby, transforming Rolta from being
 largely a comprehensive services player to an integrated solutions
 provider, based on Rolta IPR Roltas empowered and talented people, its
 innovation, drive, domain knowledge, established track record,
 exceptional IPRs, world-class infrastructure, enduring partnerships,
 competitiveness, healthy financials and purpose are all strengths that
 are absolutely essential to creating lasting value for our
 stakeholders.  But such strengths by themselves are not enough. We need
 something that will considerably increase their effectiveness and
 dramatically improve competitive advantage. The catalysts I am
 referring to are, of course, change and transformation, which we
 constantly add to the mix, thereby enabling us to compete and excel
 consistently.
 
 K. K. Singh
 Chairman & Managing Director
 
 October 20, 2008