Status of Investor Complaints for the quarter ended March 31, 2009

Complaints Pending at the beginning of the quarter Nil

Complaints Received during the quarter 138

Complaints disposed off during the quarter 138

Complaints unresolved at the end of the quarter Nil

1. The above audited results have been reviewed by the Audit Committee and taken on record by the Board of Directors in its meeting held on May 09, 2009.

2. The Company has completed its Initial Public Offering (IPO) and issued & allotted 34,611,000 Equity shares of Rs 10 each at a premium of Rs 230 per share.

3. The particulars of proceeds raised from the issue and its actual utilisation upto March 31, 2009 for the stated purposes in prospectus are given below:

(Rs in Million)

Funds received upto March 31, 2009:

Equity Share Capital - 346.11
Share Premium - 7960.53
Total - 8306.64

Actual utilisation upto March 31, 2009

IPO Expenses (including service tax) - 544.42
Investment in Wardha - Chattisgarh project - 1948.00
Sub-total - 2492.42
Balance of unutilised monies out of the IPO funds in liquid funds - 5814.22

4. Segmental Reporting as per AS 17 is not applicable as the Company has only one segment Project Development and there are no reportable geographical segments.

5. There are no exceptional / extra-ordinary items during the year ended March 31, 2009.

6. Figures for the previous year have been regrouped and reclassified to conform to the classification of the current period, wherever necessary.

S Kishore
Whole Time Director