Corporate Profile

Confidential. For intended users only.

2

IndexPage No.

About ArthVeda Fund Management Pvt Ltd (AVFM)

3

About Dewan Housing Finance Corporation Ltd (DHFL)

4-6

AVFM Business Philosophy 7-10

AVFM Company Structure 11

AVFM Funds 12-14

AVFM Board of Directors and Team 15-17

Disclaimer 18

3

ArthVeda Fund Management Pvt Ltd (AVFM)

ArthVeda Fund Management Pvt. Ltd. was established in 2005 and was earlier known as DHFL Venture Capital India Pvt. Ltd. (DHFLVC). A new management took over AVFM in 2010 and the strategic vision of DHFLVC was expanded to include (but not limited to) alternative asset classes, including, private equity, infrastructure, agriculture, debt and fixed income and trading markets besides real estate. DHFLVC was renamed as AVFM to better reflect this change and the company’s expanded vision.

AVFM is a subsidiary of Dewan Housing Finance Co. Ltd. (DHFL)–the third largest home mortgage finance company in India. DHFL is listed on BSE & NSE and has been rated CARE AA+, BWR FAAA & CRISIL P1 indicating high standards of business management.

The objective of AVFM is to float funds that offer ample opportunities for extracting alpha, i.e. high risk-adjusted returns. AVFM’s investing philosophy is based on “Value Investing” in all its products.

AVFM– Wealth from Wisdom

DHFL Group Structure

DHFL Group

First Blue Home

Finance Ltd.

DHFL & DHFL Vysya

Housing Finance

Aadhar (IFC holds

20%)

DHFL Property Services

DHFL Technical Consultan

cy

DHFL Insurance Services

Premium housing finance

Mid-income housing finance

Low-income housing finance

Property marketing and sales

Technical consultan

cy and project

management

Distribution of

insurance products

AVFM

Housing and construction finance

Ancillary services

Asset management services

4

About DHFL

1As of 25 Apr 20122 Unaudited1 USD=50 INR

5

• 2nd largest mortgage finance company in the private sector; 3rd largest overall (by market cap as well as sales turnover)1

• Consolidated loan book of approx. Rs.25,000 crores ($5.1 Bn) as of 31 Mar, 20122

• Current market cap of close to Rs 2,600 crores ($520 Mn) 1

Market position

Focus

Operational

strength

Performance

Diversified

shareholding

• Pioneers in mid-income Rs.15- 40 lakhs per unit ($30,000-80,000 per unit) and low-income Rs.4-15 lakhs per unit ($8,000-30,000 per unit) housing finance

• Focus on Tier II/III cities

• Extensive marketing network with more than 226 marketing offices regrouped under 7 Regional Processing Units.

• Over 1000 personnel in branches/service centers• Each branch has credit, technical (civil engineering),

accounts and sales teams

• Growing at approx. 42% compound annual growth rate (CAGR) for the past five years (and at approx. 50% including First Blue)

• Listed on BSE and NSE with well-diversified shareholding including Caledonia Investment Trust (UK)

Marketer of Year

DHFL wins Marketer of Year – Realty Plus Excellence Awards of the Year – 2012

Greentech HR Excellence

Award

DHFL wins Greentech HR Excellence Award – 2012 for Best Strategy (Gold Award)

Global Greentech

Award

DHFL’s HR team wins Global Greentech Award for Technology Excellence in HR - 2010

Realty Plus Newsmaker

DHFL Wins “Realty Plus Newsmaker of the Year-2011

Asia’s Best Employer

Brand Award

2nd Asia’s Best Employer Brand Award for Excellence in HR through Technology - 2011

Awards won by DHFL

6

AVFM principles

We will always…

Identify and invest in pockets of inefficiencies

Gain extensive understanding of a fund, through research, before

venturing into it

Exercise as much due-diligence in our investment decisions as we would with

our own money

Strive to partner with the best external advisors to

ensure utmost due-diligence at deal and fund level

Ensure maximum possible transparency to investors without jeopardizing the

returns

Invest in ideas just because they are popular

Invest just because time is running out

Over-concentrate in any asset-class/ schemes/

investees

Deviate from predetermined budgets

Agree to unrealistic demands by a highly-

pursued investee

We will never…

7

Differentiators

Value-investing

Leverage group

strengths

Holistic service to investors

India’s growth story- a fresh perspective

Strong team

Robust structure and

processes

• Strong focus on research driven funds and adequate ‘margin of safety’ at all stages of the investment process

• AVFM to leverage DHFL group’s strengths in real estate and asset management in the initial few funds (housing/ infrastructure)

• Ensure transparency, regular interaction, investor education and strive to create a secondary market for its funds

• Systematic identification and pursuit of pockets of inefficiencies

• Not running after popular areas of investment in the country

• Highly competent team with extensive industry experience

• Professional management with CEO’s focus largely on strategic issues

• Independent advisors and committees in place for regular supervision

• Process-driven approach for all important decisions

8

Independent review and supervision of each key process by either external auditors (E&Y, KPMG, CARE, NDA etc.) or by

specific committees with unbiased experts

Value-investing- core of AVFM philosophy

9

Wealth(Arth)

Wisdom(Veda)

from

… maintaining margin of safety

(significant discount to intrinsic value)

Ensure sufficiently high returns while…

Estimation of intrinsic value

Research and analysisUnderstand and mitigate risks

Value-investing

AVFM follows value-investing philosophy at each stage of its investment process.

But why value investing?

Holistic service to investors

Transparency

• Disclose all relevant information

• Organize project site-visits

• Share project-progress updates

Regular interaction

• Regular interaction with the AVFM team

• Explore possibility of an AGM

• Dedicated team to handle queries and grievances

Investor education

• Form an online portal dedicated to investor education

• Advise to avoid ‘fashionable’ investments

Secondary market

• Strive to provide a price-discovery mechanism and secondary market for interim-exits

10

• Extensive industry and functional experience

• Wide network of contacts

Strong core team with ambitious vision

CEO Mr. Bikram Sen

InfrastructureMr.

Lokanathan Nadar

AgricultureMr.

Lokanathan Nadar

HousingMr.

Lalit Kant

Unlisted equity

Mrs. Jyothi Prasad

DebtMrs.

Jyothi Prasad

Trading Markets

Dr. Vikas Gupta

11

• Launch funds in diverse verticals to capture higher market share

• Funds to cater to varying needs of liquidity and asset-class exposure

• Provide comprehensive portfolio management services to the clients

• Provide common value-investing philosophy to the clients

AVFM Timeline

2012-13 2013-14 2014-15

Housing

Infrastructure *

Housing

Infrastructure

Agriculture *

Unlisted equity *

Debt *

Trading Markets *

Mid-income* ArthVeda

STAR

Low-income*

Township*

Housing

Infrastructure

Agriculture

Unlisted equity

Debt

Trading Markets

Leverage group’s strengths in the initial few funds

Experience and in-house expertise to drive further growth

12* New Vertical

2005-06

DREAM Fund-1

Mid-income ArthVeda

STAR

2011-12

Housing *

DREAM FUND I

Exits 6 of 13

IRR 20-45%

Investment corpus approx . Rs.101 crores ($20 Mn)

Ongoing 7

Projected valuation Rs. 175 crores

($35 Mn) 1

13

1 USD=50 INR

Capital redemption Rs. 8 crores

($1.6 Mn)

Net profit distribution

Rs. 34 crores($6.8 Mn)

ArthVeda STAR (Middle Income Housing Fund)

Fund lifeThree years (option of extension by two terms of one year each) after complete drawdown

Fund sizeRs.200 crores ($40 Mn) with a greenshoe option of Rs.100 crores ($20 Mn)

Minimum commitm

ent

Option 1- Rs.10 lakhs ($20,000)Option 2- Rs.25 lakhs ($50,000)

Drawdown

Option 1- Upfront; Option 2- Upfront 20%; balance in 2 instalments (40% each) within three months of previous drawdown

PeriodCommitment period of six months from the date of final closure

Fee structure

Entry load 2%Carried interest 20% with catch-upManagement fees 2% p.a.

ReturnsTarget return 30% (gross IRR)Hurdle rate 12% pre-tax p.a.

14

1 USD=50 INR

AVFM Board of Directors

Kapil Wadhawan (Chairman & Managing Director)• PG Masters in Business Administration (specializing in

Finance) from Edith Cowan University, Perth, Australia.• Led robust growth of DHFL making it a leading

mortgage lending company in India.• Great knowledge and understanding of real estate and

financial markets in India.

Bikram Sen (Director & Chief Executive Officer)• Over 33 years of experience in Global Investment

Banking, Investing and Trading having worked for cos. such as American Express, Chemical Bank (now J P Morgan Chase) and SBI and with large fund houses like Quantum (US based George Soros) and The Chatterjee Group.

• Former MD of Chemical Bank, Tokyo, and former CEO of DHFL.

• Helped propel DHFL from an asset book of approx $300 Mn. to approx $2.5 Bn.

• Led the acquisition of Deutsche Postbank Home Finance adding another $1.5 Bn to DHFL’s asset book.Narayan Sheshadri (Director)

• Member of Institute of Chartered Accountants of India.• Over twenty-two years of audit, consulting and industry

experience and worked in senior positions at KPMG in London, largely in the financial services and property sectors.

• Served as a member of Forex Market Policy Committee set-up by the Reserve Bank of India.

Ajay Vazirani (Director)• Solicitor and a Partner with Hariani & Co., Advocates

and Solicitors.• Substantial experience in real estate, corporate and

commercial deals related to private placement of equity and venture capital funding.

• Handles matters relating to dispute, resolution including court litigation and arbitration.

15

Executive Committee

Dr. Vikas V Gupta (Head- Research & Product Development and Trading Markets) • A B.Tech from Indian Institute of Technology (IIT)

Mumbai with Masters and Doctorate from an Ivy League University—Columbia University, New York.

• Served as Professor and research faculty at IIT Kharagpur and University of California.

• Over 20 years of experience in research, strategy and operations in various CxO-level roles. He has been involved with several IPOs, private placements, and M&A transactions.

• Capabilities lie in strategic value creation by understanding the interplay of valuation drivers and sources of risk through in-depth research and analytics.

• Co-authored a book on Corporate Governance in the context of Sarbanes-Oxley.

• Holds a value-oriented investment philosophy, which emphasizes “margin of safety” to minimize risks before focusing on maximizing returns.

16

Mr. Lalit Kant (Head- Real Estate)• Post-graduate from the Delhi School of Economics and a

Certified Associate of the Indian Institute of Bankers.• Over 32 years of experience in the banking industry.• Initial years with SBI at various centres and was

associated with product development at the Corporate Centre.

• Worked with Siam Commercial Bank, PCL, (a leading bank of Thailand) for over 16 years; served as General Manager and Country Head, India.

Executive Committee

Mr. Lokanathan Nadar (Head- Infrastructure and Agriculture)• Chartered Accountant and Company Secretary with

over 12 years of experience in the infrastructure sector.• Worked as CEO of Pavana Multi Product SEZ (Township

Developers India Ltd) and Infrastructure initiatives of Wadhawan Mega Infrastructure Pvt. Ltd.

• COO of Sterling Multi Product SEZ. Headed Infrastructure initiatives of the group while supporting regulatory & environmental clearances for Sterling Dahej Port.

• Worked with Infrastructure Leasing & Financial Services (IL&FS) Part of the advising team for Government and private sector for core Infrastructure such as SEZ, power, industrial development, roads & transportation.

17

Mrs. Jyothi Prasad (Head- Private Equity and Debt)• An alumna of Indian Institute of Management,

Ahmedabad (IIMA) and London School of Economics (LSE).

• Over 24 years of investment banking experience in India with SBI Capital Markets, Peregrine Capital and NM Rothschild and American Orient Capital.

• Extensive experience in origination and execution of a wide spectrum of fund-raising and advisory transactions with MNCs, large Indian corporates and SMEs.

• Fund-raising includes private placement of equity, term debt and working capital-raising.

• Capital market capabilities include advice and assistance on IPO, rights and takeover code transactions.

• Advisory experience includes valuations, M&As, sell-offs and capital restructuring.

18

Disclaimer

• This Corporate Profile cannot be copied and/or disseminated in any manner. This communication is for general information purpose only, without regard to specific objectives, financial situations and needs of any particular person.

• This document is neither a prospectus nor any invitation to subscribe to the units of Fund and the schemes floated by the Fund. Nothing in this document is intended to constitute legal, tax, securities or investment advice, or opinion regarding the appropriateness of any investment, or a solicitation for any product or service. Nothing in this document is to be construed as an invitation for solicitation or collection of funds, which will be raised by way of a private placement memorandum. The information herein is subject to change without notice. Each prospective investor is advised to consult its advisors about the particular consequences to it of an investment in the schemes floated by the Fund. Neither the Fund nor any of its officers or employees accept any liability whatsoever for any direct or consequential loss arising from any use of this publication or its contents.

• No representation or warranty, expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. The information contained in this Corporate Profile is only current as of its date.

• Certain information in the document is based on information collected from sources considered to be reliable, however, the accuracy of such an information cannot be guaranteed and further such information may be complete and condensed. No liability is assumed for relevance, accuracy or completeness of the content of this Corporate Profile.

• This Corporate Profile is subject to the more detailed information specified in the Fund Document (as defined in the Private Placement Memorandum of the Fund) available only on request and investor may read and agree to the contents of the Fund Document, including all risk highlighted therein, prior to making any investment related decisions. Before making an investment, each potential should make its independent assessment and enquiries.

• The Company may alter, modify or otherwise change in any manner the content of this Corporate Profile, without obligation to notify any person of such revision or changes. No part of this material shall be copied or duplicated in any form by any means, or redistributed

• Copyright of Corporate Profile solely and exclusively belongs to ArthVeda Fund Management Pvt. Ltd., and regardless of the purpose, any reproduction and/or use of this Corporate Profile in any shape or form without the prior written consent of ArthVeda Fund Management Pvt. Ltd. is strictly prohibited.

ArthVeda Fund Management Pvt. Ltd.Ground Floor, HDIL Towers, Anant Kanekar Marg, Bandra

(E),Mumbai 400051, Maharashtra, India

Contact no.: +91 22 67748500; Fax: +91 22 67748585www.arthveda.co.in