G R INFRAPROJECTS LIMITED

(Formerly known as G.R. Agarwal Builders and Developers Limited) CIN : U45201 GJ1995PLC098652

16th November 2021

To, BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai- 400001

Scrip Code: 543317

National Stock Exchange of India Limited Exchange Plaza, Plot No. C-1 G Block, Bandra-Kurla Complex, Bandra(E) Mumbai -400051

Symbol: GRINFRA

Sub: Investor Presentation on the financial results for the quarter and half year ended September 2021.

Dear Sir,

Please find enclosed herewith copy of Investor Presentation on the unaudited financial results of the Company for the quarter and half year ended September 2021. The above information is also being uploaded on the Company's website at www.grinfra.com.

This is for your information and records.

Thanking you,

Yours sincerely, For G R lnfraprojects Limited

Sudhir Mutha Company Secretary ICSI Membership No. ACS18857

Enclosed: As above.

CORPORATE OFFICE :

2nd Floor, Novus Tower Plot No. 18, Sector-18 Gurugram, Haryana-122015, India Ph.: +91-124-6435000

HEAD OFFICE :

GR House, Hiran Magri, Sector-11 Udaipur, Rajasthan-313002, India Ph.: +91-294-2487370, 2483033 REGISTERED OFFICE : Revenue Block No. 223 Old Survey No. 384/1, 384/2, Paiki and 384/3, Khata No. 464, Kochariya Ahmedabad, Gujarat-382220, India

Getting People Places, Faster

G R Infraprojects Limited

Investor Presentation

Getting People Places, Faster Q2 & H1FY2022

November 16, 2021

Context

Disclaimer

This presentation and the accompanying slides (the "Presentation"), which have been prepared by G R Infraprojects Limited (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain allot the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.

Q2 & H1FY22 Financial Highlights

Half Year Highlights

PAT (Rs in Mn) & PAT Margin (%)

Q2 & H1FY22 Financial Highlights

Debt Equity Ratio (Inc. Mob Advance)

0.34

Standalone Profit and Loss Statement ( Rs in Millions)

	A	B	C	D	E	F
Particulars	Q2 FY 21-22	Q1 FY 21-22	Q2 FY 20-21	H1 FY 21-22	H1 FY 20-21	FYE 2020-21
Income
Revenue from operations	16,994.79	21,331.77	11,683.09	38,326.56	24,001.22	72,444.55
Other income	339.38	301.95	324.01	641.33	578.01	1,274.88
Total income	17,334.17	21,633.72	12,007.10	38,967.89	24,579.23	73,719.43
Expenses
Cost of materials consumed	820.48	510.79	122.87	1,331.27	230.25	1,112.98
Civil construction costs	11,707.62	15,864.69	8,033.96	27,572.31	17,605.67	52,771.36
Changes in inventories of finished goods and trading goods	(54.53)	(4.03)	(9.96)	(58.56)	(8.49)	(43.70)
Employee benefits expense	1,502.54	1,312.06	813.17	2,814.61	1,768.04	4,548.19
Other expense	228.64	182.85	145.45	411.48	250.51	799.94
CSR expense	10.99	11.63	10.42	22.62	44.58	151.99
EBITDA INR	3,118.43	3,755.73	2,891.19	6,874.16	4,688.67	14,378.67
EBITDA %	17.99%	17.36%	24.08%	17.64%	19.08%	19.50%
Finance costs	310.67	387.60	409.23	698.27	740.20	1,395.76
Depreciation and amortisation expense	709.95	665.90	522.85	1,375.85	996.72	2,268.39
PBT	2,097.81	2,702.23	1,959.11	4,800.04	2,951.75	10,714.52
Tax	467.46	666.12	548.34	1,133.58	831.05	2,908.43
PAT	1,630.35	2,036.11	1,410.77	3,666.46	2,120.70	7,806.09

Consolidated Profit and Loss Statement ( Rs in Millions)

	A	B	C	D	E	F
Particulars	Q2 FY 21-22	Q1 FY 21-22	Q2 FY 20-21	H1 FY 21-22	H1 FY 20-21	FYE 2020-21
Income
Revenue from operations	18,823.77	22,644.85	12,700.80	41,468.62	26,344.22	78,441.31
Other income	178.85	99.54	113.90	278.39	277.93	701.57
Total income	19,002.62	22,744.39	12,814.70	41,747.01	26,622.15	79,142.88
Expenses
Cost of materials consumed	820.48	510.79	122.87	1,331.27	230.25	1,112.98
Civil construction costs	11,786.64	15,892.18	7,913.78	27,678.81	17,722.93	53,132.26
Changes in inventories of finished goods and trading goods	(54.53)	(4.03)	(9.96)	(58.56)	(8.49)	(43.70)
Employee benefits expense	1,502.97	1,313.65	791.64	2,816.63	1,770.76	4,576.26
Other expense	854.30	216.51	170.77	1,070.81	320.25	1,014.24
CSR expense	10.99	11.63	10.42	22.62	44.58	151.99
EBITDA INR	4,081.77	4,803.66	3,815.18	8,885.43	6,541.87	19,198.85
EBITDA %	21.48%	21.12%	29.77%	21.28%	24.57%	24.26%
Finance costs	886.79	1,201.07	901.44	2,087.86	1,687.06	3,616.94
Depreciation and amortisation expense	709.95	665.90	513.22	1,375.85	996.72	2,270.91
PBT	2,485.03	2,936.69	2,400.52	5,421.72	3,858.09	13,311.00
Tax	598.98	723.96	680.26	1,322.94	1,081.98	3,762.71
PAT	1,886.05	2,212.73	1,720.26	4,098.78	2,776.11	9,548.29

Recent Developments

PCOD Achieved; PCOD Achieved

Gundugolanu Devarapalli Project (HAM)
Varanasi Ring Road Project (EPC)
Kamakhyanagar Duburi Project ( EPC)

Final COD Achieved

Phagwara-Rupnagar Project (HAM).
Porbandar Dwarka Project (HAM)

• Development of 6-lane Amritsar-Bathinda Greenfield section under Bharatmala Pariyojana Phase-I (Package-1) on Hybrid Annuity Mode Project with BPC of Rs 9270.00 Million

Construction of Four / Six lane Greenfield Ludhiana Rupnagar National Highway under Bharatmala Pariyojana in the State of Punjab on Hybrid Annuity Mode, Package-1 with BPC of Rs 9510.00 Million
Awarded Construction of Elevated Structures (Viaduct & Stations) of length 7.50Km (approx.) - Reach-6 line of Bangalore Metro Rail Project with Contract value of Rs 3648.76 Million.

Order book as on September 30,2021 is Rs 157,824.76 Million*

*Order Book is exclusive of GST & In addition to this, we have been emerged as L-1 in 1 Metro Rail project amounting to Rs. 5,921.70 Million (Excluding GST).

Debt Breakup (Fund Based) as on September 30,2021

Rs in Million	September 21
Debentures	7,450.19
Term Loan	2,293.28
Working Capital	1,453.93
Mobilization Advance	1,446.56
External Commercial Borrowing	847.83
Total Debt	13,491.79
#Cash and Bank	4,497.32
#Cash and Bank includes Lien Marked FDR's valuing	3,546.51

CONSOLIDATED DEBT 3% 24%	PROJECT LOAN STANDALONE DEBT MOBILISATION ADVANCE 73%
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Rs in Million	September 21
Project loan*	35,787.62
Standalone debt	12,045.23
Mobilization Advance	1,596.09
Total Debt	49,428.94
#Cash and Bank	7,314.26
#Cash and Bank Balance includes Lien Marked FDR's valuing	3,734.52
*Includes AAA Rated Loans amounting Rs. 23,069 Million

Portfolio of HAM Projects

Nagaur-Mukundgarh

Phagwara-Rupnagar

Porbandar-Dwarka

Handia-Varanasi

Akkalkot-Solapur

Sangli-Solapur

Gundugolanu Devarapalli

Dwarka-Devariya* Current Progress – 54.47%

Aligarh-Kanpur* Current Progress – 19.62%

Under Construction

Appointed Date Awaited

Ena-Kim Section Vadodra Mumbai Expressway VI

Shirsad-Masvan Expressway Vadodra Mumbai Package XIII

Raipur-Dhanbad Corridor

Galgalia Bahadurganj

Bahadurganj Araria

Amritsar-Bhatinda Greenfield

Ludhiana-Rupnagar

GRIL – Our Business

METAL CRASH BARRIER EMULSION/PMB ROAD SIGNAGES AND

HIGHWAYS BRIDGES RAILWAYS & METRO

MARKING PAINT 14

Key Milestones

1996- 2000 • Commencement of business • Take-over of business of M/s Gumani Ram Agarwal • Foray into development of infrastructure projects • Established centralized workshop with fabrication facilities at Udaipur. 2001- 2005 2006- 2010 • Name changed to "G R Infraprojects Limited" • Commissioned 30,000 MT PA Bitumen emulsion/PMB unit at Udaipur • Equity investment by IBEF I, IBEF and IDFC • Completed Shillong Bypass ~10 months prior to SCOD • Commissioned Second 30,000 MT PA bitumen emulsion unit at Guwahati ,Assam • Commenced operations of 24,000 MT PA , fabrication and galvanisation unit for metal crash barriers at Ahmedabad, Gujarat. 2011- 2015 2016- 2019 • First HAM project awarded with Bid Project Cost of ₹ 13,670.0 Mn • Divestment of equity stake in - Jodhpur Pali Expressway Limited and Shillong Expressway Limited • Awarded first railway project. • Third bitumen emulsion manufacturing unit came up at Sandila, Uttar Pradesh • Achieved PCOD for first NHAI HAM project, Phagwara – Rupnagar • Successful listing of the Company on BSE and NSE on July 19,2021 2020- 2021