Real estate investment in Gurgaon 2

Real estate portfolio


1 real estate portfolio

2 Fund initiator with international experience as a business location India Attractive fund properties Top locations Balanced fund structure No administrative expenses Attractive after-tax return The most important thing at a glance 18. Foreign funds from SachsenFonds India is currently the fastest growing, democratically governed economy in the world with a large, well-trained workforce New buildings with different types of use (office, residential and retail and hotel) Delhi (2 projects), Hyderabad (1 project) and Mumbai (2 projects) each at strategically important locations for use Good diversification through indirect investments in five project companies at three locations with Different types of use of the building to be prepared Tax return at fund level, not at the level of the limited partner 10% - 15% pa (according to the IRR method) SachsenFonds

3 Source: Handelsblatt July 2008


5 India area km² and thus the seventh largest country in the world India is still very much shaped by the former colonial power England. The legal and school system as well as the official language English testify to this. Current population of approx. 1.1 billion (one sixth of the world population) with a growth of approx. 1.46% p. a. (around 15 million people). India accounts for one sixth of the world's population, the second most populous country in the world.Very young population, who will increasingly enter the working age in the next few years.Excellent trained specialists with a high level of motivation.The increasing liberalization of the economy and the planned massive expansion of the infrastructure are important prerequisites for the long term expected growth













18 Demographics of India The average age of the population in 2006 was 24.9 years. One in three Indians is under 15 and only one in three over 35 years. In Europe, almost 60% of the population is over 35 years of age. The number of people in employment is already estimated at over 700 million. In the next 20 years, an increase of another 250 million workers is expected

19 The population of the G6 / BRIC countries 2) (in millions) 2) The G6 countries summarize the classic industrialized countries with a gross domestic product of over a trillion US dollars at the time of observation (Germany, France, Great Britain, Italy, Japan, USA). Brazil, the Russian Federation, India and China are known as BRIC countries.

20 India's changing age pyramid

21 India - Economic Growth Currently fourth largest economy in the world, with an expected economic growth of 6-8% in the next two decades India is the world's largest democracy and one of the fastest growing economies in turn, growth and demand accelerated hard-working and well-educated populations


23 India - economic growth India already advanced into the circle of the ten largest economies in the world in 2004 India benefits from the advantages of the international division of labor (India as the back office of the world) Example information and biotechnology as well as pharmacy) In 2006 USD 787 billion total economic production In the last 10 years, the gross domestic product grew by around 6% annually (in 2006 even by 8.4%) The Deutsche Bank sees India as the strongest in the world by 2020 growing economic nation

24 Gross National Product: BRIC countries overtake G6 countries


26 Average annual growth rates through 2020



29 Source: Handelsblatt March 11, 2008


31 Forbes List 2008

32 India Rising salaries due to strong demand, especially for well-educated university graduates. Forecasted doubling of purchasing power and thus development of a broad middle class. Increasing demand in all areas, but especially in the office and residential property market

33 The demand in all property usage classes is increasing Office: Increasing demand for offices for outsourcing activities and IT development Residential: The rapidly growing middle class is asking for condominiums Increasing demand in all usage classes Retail: Consumer spending is increasing, which is the need for Hotel properties are increasing: The growing number of business travelers has too few hotels available.


35 Trikona Capital TSF Advisers Mauritius Ltd, a joint venture between SachsenFonds Asset Management GmbH and Trikona Advisers Ltd, is the investment manager for the project developments. Trikona Advisers Ltd also looks after the other project companies of Trikona Trinity Capital PLC, a fund company traded on the London Stock Exchange with a focus on Indian investments In 2007 Trikona Trinity Capital PLC raised a volume of GBP 250 million, which is to be invested in project developments in India with a volume of GBP 5 30 million each. SachsenFonds has five attractive investments from the entire portfolio of Trikona Trinity Capital PLC (15 investments) Investments chosen The management team of the Trikona Capital Group has an excellent local network

36 The objects MIG Bandra, Mumbai Tata Colony, Mumbai Luxor Cyber ​​City, Delhi Manjeera, Hyderabad Tech Oasis, Delhi


38 Mumbai Mumbai is the capital of the state of Maharashtra and the most important port city of the subcontinent. 1995 Renaming of Bombay to Mumbai Approx. 16 million inhabitants Trade and financial center of India Largest film industry in the world (Bollywood) Most European of the Indian cities Large number of excellent educational institutions (two universities, Research institutes, academies and colleges) Headquarters of the leading teaching and research institutions - Mumbai University Institute of Chemical Technology - Tata Institute of Fundamental Research - Indian Institute of Technology Bombay

39 Tata Colony MIG Bandra



42 Mumbai - Economy Center of economy, trade and fashion in India Versatile industry: processing of petroleum products, shipbuilding, fishing, publishing, etc. Generates one sixth of the gross domestic product. 10% of India's industrial jobs are here and 40% of Indian foreign trade is in Mumbai 33% of the total income tax income comes from Mumbai 60% of the customs income 20% of the consumption tax income About 30% of the residents currently living here (around million) are to be assigned to the higher income segment one of the largest natural harbors in the world

43 Mumbai residential real estate market High demand for office and, above all, residential space due to the strong growth of the city Due to the peninsula location, the possibilities for expansion into the center and south are limited The shortage of space leads to massive increases in purchase prices Rate of increase of approx. 300% in the last two years The properties are among the most expensive in the whole of the country. Approx. People move to the property each year. Average sales time: six months Price per m² in the center and in the south: 4,600 to 6,500

44 Purchase prices for residential real estate 1st quarter 2008








52 MIG Bandra, Mumbai

53 MIG Bandra, Mumbai Project development of around m² of condominiums and shops in the immediate vicinity of the up-and-coming business center Bandra Kurla. It is part of the urban regeneration and renovation program. The aim is to make decisive improvements in the areas of housing, infrastructure and standard of living Railway station 500 meters away there is a transport hub with connections to the center as well as to the northern and eastern areas of Mumbai

54 Mumbai Office Real Estate Market Strong economic growth leads to high demand for office space. Relocation of the economic center to the northwest, as there are only very limited opportunities for new construction projects in the city center and in the south due to the peninsula location. For this reason, a new business center initiated by the government, the Bandra Kurla complex, is being built, which in the meantime represents a real alternative to the central business area in the south. Approx. 90% of India's banks and financial services companies are headquartered in Mumbai. IT, telecommunications and insurance companies are also the main prospects for office space The purchase prices have risen sharply in recent years The rents in the BandraKurla complex have increased over the past six months, depending on the quality and furnishings 20% - 30% increased

55 Purchase prices for office properties, 3rd quarter 2007

56 Average gross rents per month for high quality office space in the Bandra Kurla complex



59 TataColony, Mumbai Bandra Kurla Complex Tata Colony is located on a plot of approx. M². It is a project development of around m² of office space in a secondary business center of Mumbai. Mumbai is the center of financial service providers in India and is characterized by good infrastructure and newer buildings in the location Surrounding area in the area of ​​the project are public administrations, banks and leading financial service providers

60 Tata Colony, Mumbai

61 Tata Colony, Mumbai



64 Hyderabad Hyderabad is the capital of the state of Andhra Pradesh with 6.7 million inhabitants, third largest city in India One of the fastest growing metropolises (growth rate every 10 years 32%) Home of three large universities and several international schools Newly opened international airport in 2008 Has many monumental structures, temples, mosques and churches. Newly opened international airport in 2008

65 Hyderabad - City Snapshot Hyderabad Metropolitan Area 1.905 Population 6.7 Million Growth in Population 32% Projected Population (2011) 9.05 Million No. of Households 1.81 Million No. of IT / ITeS Companies Over 1,234

66 Hyderabad - Economy In the last few decades, Hyderabad has developed into a knowledge-based industrial city. With the establishment of Genome Valley, it has become the center of the biotechnology and pharmaceutical industries in India.Other important branches of industry are: electrical industry, mechanical engineering and software industry One of the fastest growing IT cities India's fourth largest exporter of software products in India The growth rate of exports in recent decades has been 80% There are currently around 500 IT companies based in Hyderabad, e.g. Dell, Google, Microsoft, Motorola etc. Hyderabad is therefore also called Cyberabad, the seat of the largest film studio in the world, Hyderabad Ramoji Film


68 HI-TECH Hyderabad City: Developed Economic by L&T Growth Clusters Other Software Parks: Cyber ​​Tower 550,000 sq. ft. of built up space Cyber ​​Gateway 860,000 sq.ft. of built up space Cyber ​​Pearl 500,000 sq.ft. of built up space Mindspace Cyberabad 3 million sq. ft. of built up space RMZ Futura Covering 5.24 acres with 350,000 sq. ft. of built up space Vanenburg IT park 850,000 sq ft of built up space Splendid Towers Cyber ​​Spazio and many others Private Campuses TCS: 320,000 sq.ft development center and houses 2200 people initially Satyam Technology Center (STC): 120 acre Hi-Tech center at Hyderabad Infosys Development Center: - Campus spread over 50 acres with the capacity to house more than1,500 people Wipro: - 200,000 sq. ft. SDC in Madhapur

69 Hyderabad Economic Growth Clusters ORACLE Employs nearly 2800 Software professionals Plans to set-up a state-of-the-art campus in the 9.74 acres of land near HITEC city. The planned area of ​​campus - 500,000 sq. ft. HSBC Electronic Data Processing (India) Pvt. Ltd Has facilities in Cyber ​​Pearl and HITEC City in a total area of ​​million sq. ft. in Hyderabad Employs over 4,000 professionals in these centers GENPACT (Hyderabad) Spread over 28 acres, this facility is the largest investment by GE Capital in India. The Company has a BPO facility and a Learning Center which employs nearly 5,000 professionals Microsoft Campus at Manikonda. Spread over 42 acres, it will be the largest campus of Microsoft outside Redmond To support 3,000 employees after completion of second phase

70 Hyderabad Economic Growth Clusters: Existing Pharma & Biotech Players GENOME VALLEY: Declared an area of ​​600 or Genome Valley for biotechnology activities ICICI KNOWLEDGE PARK: ICICI Limited & have set up a Knowledge park with in 200-acres for R&D activities ICICI Knowledge Park will Also house a Biotech Knowledge Center Biotechnology Park: This 400 acres park is adjacent to the existing ICICI Knowledge Park and will help small and medium enterprises (manufacturing units

71 Hyderabad office real estate market 50% of the interested parties come from the IT sector. Further interested parties are biotechnology, pharmaceuticals, the textile and construction industries. In 2006 approx. M² were newly let. The average rents for office space are between 5.50 and 9.20 / m². The purchase prices are between 650, - and 1,000, - / m². In the years 2004 to 2006, the new offer was lower than the letting performance. The vacancy rates in the main centers are almost zero, in the other sub-markets around 5%

72 Hyderabad Commercial Real Estate Market Increasing population needs more shopping opportunities Currently there is approx. M² of shopping space in the city. New retail space is being created primarily in the city's economic centers. In 2008, 15 new shopping arcades are expected to be built. Approx. M² of shopping space will be built in the next two years , - and 37, - / m², the average purchase prices are 1,100, - and 2,000, - / m². The vacancy rate is an average of 2%, in the center almost no vacancy

73 Hyderabad Residential Real Estate Market The increasing economic activity has led to a high influx of people from all parts of the country and also from other countries. High demand for residential real estate, especially for high-quality properties in Hyderabad. Average rental prices are 1.30 and 2.80 / m² , the average purchase prices are 464, - and 835, - / m². The vacancy rates in most urban areas are only 1%

74 living spaces purchase prices and rents in the suburbs

75 Hyderabad

76 Manjeera, Hyderabad Project development on two plots: approx. M² office approx. M² retail approx. M² residential The project is strategically located on the road to High-Tech City, where most of the IT companies are located. The plots have direct access to the main road and thus an excellent street frontage.In the immediate vicinity there are universities, schools, shops, energy supply, etc.



79 Manjeera, Hyderabad

80 Manjeera, Hyderabad

81 Manjeera, Hyderabad m² Income per m² in office space Retail space Residential space Total

82 Delhi Second largest city in India with an area of ​​around square kilometers Over 11 million inhabitants National and international transport hub with highways, overland bus terminals, railway lines, a metro and two airports Industrial city, cultural center with universities, theaters, museums, galleries and magnificent buildings from the Mughal era five most important universities: University of Delhi, Jawaharlal Nehru University, Guru Gobind Singh Indraprastha University, JamiaMilliaIslamia and the Indira Gandhi National Open University the All India Institute of Medial Science, the Indian Institute of Technology etc. The largest structure is LalQila, the Red Fort, built from 1639 to 1648


84 Delhi - Economy Diverse industries: textiles, shoes, electronic equipment, precision tools and automobiles Large range of handicrafts: carpets, antiques, jewelry, modern art and designer clothing The area around the city is used for agriculture, wheat, pulses, fruits and vegetables are grown . Dairy farming as a major industry Many infrastructure measures are planned for the 2010 Commonwealth Games, the main target for direct foreign investors

85 Delhi - Office Real Estate Market 75% of the demand in the last two to three years came from the IT industry and providers of IT-supported business processes, such as IBM, Alcatel, AtosOrigin and Sky Tech IT companies are mainly settling in the satellite cities of Delhi, Gurgaon, Noida and GreaterNodia. The monthly net rents are currently between 10.00 / m² in the GreaterNoida area and 70.00 / m² in the city center of Die Purchase prices fluctuate between 1,100 / m² in GreaterNoida, 1,300 in Gurgaon and 6,500 / m² in the city center

86 prices for office space in 2008

87 Delhi Retail Real Estate Retail chains are increasingly settling in the greater Delhi area. The demand for international branded goods is increasing, so that the main demand is currently branded clothing and shoe stores, shops for lifestyle and health products as well as specialty and fast food restaurants. Preferred areas are between 75 m² and 330 m² For the greater Delhi area, the development of retail space in the order of 1.9 million m² is expected by the end of 2008 (almost 3/4 of this is about to be completed). The current purchase prices are between 2,600 / m² and 5,570. - / m² The net rents in the main locations are between 79.00 and 278.00 per m² and month

88 Purchase prices for retail space

89 Delhi - Residential real estate Generally restrictive housing construction in the past 8-10 months, resulting in a step between supply and demand Shifting demand from the premium segment to offers for middle income groups, including GreaterNoida Positive forecast regarding the population development in GreaterNoida: currently approx Purchase prices in satellite cities are currently around 1,100 / m² and can rise to 9,100 / m² in prime locations


91 Tech Oasis, Delhi




95 Tech Oasis, Delhi The Tech Oasis project is creating an IT park in GreaterNoida, a satellite city near Delhi, which will enable employees to work and live on site. Approx. M² of IT, office, retail, hotel and living space will be built on a plot of approx. M². The project is part of the Indian government's plan to develop a fully integrated, modern IT location in the southeast of Delhi. To support this plan, the government is pushing the expansion of the infrastructure and has granted the project the status of a Special Economic Zone (SEZ), which guarantees tax exemption for the revenues generated within this zone.

96 Tech Oasis, Dehli Integrated concept: enables people to live, work and spend their free time on site The area in which the project is located is designated by the government as the nearest IT location a major road, the Greater Noida Expressway, connects to Delhi

97 Tech Oasis, Delhi


99 Luxor Cyber ​​City, Delhi

100 LuxcorCyber ​​City, Delhi The Luxor Cyber ​​City project is creating an IT park in Gurgaon, a satellite city in the southwest of Delhi. Approx. M² of IT and office space will be built on a plot of approx. M². Gurgaon is the established IT location in the Delhi region. The government has granted the project the status of a Special Economic Zone (SEZ), which guarantees tax exemption for the revenues generated within this zone.

101 Percentage share of projects / locations in the fund% share in the fund in sqm in sqm Delhi Tech Oasis (25% in Indian project company) 64.33% sqm Luxor Cyber ​​City (7% in Indian project company) 11.25% sqm 75.58 % sqm Mumbai Tata Colony (17% in Indian project company) 5.11% sqm MIG Bandra (27% in Indian project company) 2.37% sqm 7.48% sqm Hyderabad Manjeera (29% in Indian project company) 16.94% sqm 16.94% sqm total weighted 100.0% sqm

102 Types of use of all 5 projects in% of the stake% share in the fund Residential Office Trade Hotel Total Delhi Tech Oasis sqm sqm sqm sqm (25% in Indian project company) 64.33% sqm sqm sqm sqm Luxor Cyber ​​City sqm (7% to Indian project company) 11.25% m2 m2 Mumbai Tata Colony m2 m2 (17% to Indian project company) 5.11% m2 m2 MIG Bandra m2 m2 m2 (27% to Indian project company) 2.37% m2 297 m2 m2 Hyderabad Manjeera qm qm qm qm (29% in Indian project company) 16.94% qm qm qm qm qm total weighted qm qm qm qm qm qm qm qm qm 100.00% 13.78% 69.75% 14.70% 1, 77% 19.41%

103 Distribution of the investment volume in million million in% in% of the fund volume including Agio Delhi Tech Oasis 25.626 31.08 24.90 Luxor Cyber ​​City 11.924 14.46 11.59 37.550 45.54 36.49 Mumbai Tata Colony 18.994 23.04 18.46 MIG Bandra 13.955 16.93 13.56 32.949 39.97 32.02 Hyderabad Manjeera 11.943 14.49 11.61 11.943 14.49 11.61 Total weighted 82.00 80.12

104 Income expectation according to forecast calculation Percentage of fund Purchase price in T Total Delhi Tech Oasis 64.33% Luxor Cyber ​​City 11.25% Mumbai Tata Colony 5.11% MIG Bandra 2.37% Hyderabad Manjeera 16.94% Total weighted 100.0 %

105 shareholding structure (planned)

106 Investment and finance plan

107 Forecast calculation using the example of a participation of forecast calculation for the period up to forecast calculation for the investor in distribution in% to the limited partner's contribution pa 0.00% 0.00% 53.29% 70.26% 23.75% 3.22% distribution cumulated in % of the limited partnership capital accumulated 0.00% 0.00% 53.29% 123.55% 147.31% 150.53%

108 Example of a participation in the amount of plus 5% premium Participation total premium payment Total total of the forecast payments Total result in% of the limited partner's contribution (without premium after fees) Yield ratio according to the IRR method 150.53% 13.47%

109 Good reasons for investing High-yield investment offer Short fund term and capital commitment Specific real estate projects (no blind pool, no fund of funds) Risk minimization by spreading the investment over several projects, locations and usage classes Experienced and competent partners On-site control by a joint venture of SachsenFondsTrikona Fund provider with international experience