Edelweiss Presentation Investor Conferences Feb11

8/6/2019 Edelweiss Presentation Investor Conferences Feb11

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Strictly Private and Confidential

January 2011

Edelweiss Capital


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Contents

1. Edelweiss Overview

2. Business Overview

3. India: Growth Opportunities & Edelweiss Strategy

4. Edelweiss Strengths

2


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Edelweiss Group- Introduction

Leading diversified financial services organization

Incorporated in 1995 as an investment bank focus on Private

Equity Syndication

Key businesses now: Investment Banking, Brokerage - Institutional

and Retail, Asset Management, Financing and Treasury

FY10 Revenue of`9.78 bn, PAT of`2.29 bn

11 year CAGR for Revenue 80% and for PAT 75% upto FY10

9MFY11 Revenue of`11.05 bn, PAT of` 1.90 bn

Balance Sheet size` 81.77 bn as on Dec 10

Group net - worth ` 27.90 bn as on Dec 10 (including Minority)

2575 employees and 360 offices pan-India after Anagram acquisition

3


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Institutional Equities

+ International Long

Investment Banking+ DCM

HNI Businesses

+ Fin Product Dist.

2007 - 2009

Financing

+ ESOP

Treasury

+ Fixed Income

Asset Management

Alternatives

Retail Broking & Dist.

IPO Distribution

Evolution

4

Investment BankingPE Syndication

1996 - 2000

Treasury

Equities Arbitrage


Equity Derivatives

Investment Banking+ M&A Advisory

2000 - 2005


+ MFs and Insurance

Investment Banking+ ECM

Treasury

+ Special Situations

HNI Businesses

Broking

2005 - 2007

Financing

Sponsor and IPO

# Subject to final approvals; initial R1 approval received


+ Automated Trading

Investment Banking+ Project Finance

WAIS

+ Wealth Management

2009 - 2011

Financing

+ LAS, Home Loans

Treasury

+ Commodities

Asset Management

+AMC


+ Broking, Anagramacquisition

Life Insurance#

From an Investment Banking firm to a Diversified Financial Services Organization


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Market Presence Strategy

5

Growth Levers

Diversification in adjacent markets across products,

asset classes and client segments

Products

Alternative AssetManagement

Domestic AssetManagement

Financial ProductsDistribution

CollateralizedLoans; HomeLoans

Asset Classes

Equities &Derivatives

Fixed Income

Commodities

Currencies

Distressed Assets

Client Segments

Institutions

Corporates

High Net-worthIndividuals

Mass Affluents

Retail


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-

2,000

4,000

6,000

8,000

10,000

12,000

FY99 FY01 FY03 FY05 FY07 FY09 9MFY11

Total Income`mn

-

500

1,000

1,500

2,000

2,500

3,000


Profit After Tax`mn

-

5

10

15

20

25

30


Net Worth incl. MI`bn

9M

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000


Average no. of Employees

Track Record

6

CAGR 80% CAGR 75%

CAGR 95% CAGR 60%

9M 9M

CAGRs are upto FY10


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7

Revenues`4,447 mn (`2,302 mn for Q3FY10)

Fee & Commission Income` 1,353 mn (`859 mn)

Income from Treasury Operations` 643 mn (`607 mn)

Interest Income` 2,379 mn (`744 mn)

Credit businesses revenues at 41% of total revenues in Q3FY11 and

36% in 9MFY11

Profit After Tax and Minority` 623 mn (`536 mn)

PBT Margin 22% (33%) and PAT Margin 14% (23%)

Diluted quarterly EPS`0.80 (`0.69)#

Q3FY11 Consolidated Unaudited Financials at a Glance

#Not annualized, adjusted for corporate actions, FV `1 per share


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8

Consolidated Results

`Million FY11 FY10 FY11 FY11 FY10 FY10

Q3 Q3 Q2 9M 9M Annual

Fee and Commission Income 1,353 859 1,437 3,724 2,332 3,504

Income from Treasury Operations 643 607 482 1,687 2,115 2,455

Investment and Dividend Income 2 54 45 88 342 342

Interest Income 2,379 744 1,786 5,421 2,307 3,389

Other Operating Income 70 38 11 129 58 88

Total Revenues 4,447 2,302 3,761 11,049 7,154 9,778

Operating and Other Expenses 1,045 685 919 2,600 1,960 2,763

Employee Cost 608 372 606 1,712 1,157 1,622

Financial Expenses 1,751 464 1,215 3,742 1,373 1,943

Depreciation 63 27 36 137 83 122

Total Expenses 3,467 1,548 2,776 8,191 4,573 6,450

Profit Before Tax 980 754 985 2,858 2,581 3,328

Tax Expenses 334 175 297 869 695 879

Profit After Tax 646 579 688 1,989 1,886 2,449

Share of Minority Interests in Profits 23 43 27 92 117 157

Profit After Tax and Minority Interest 623 536 661 1,897 1,769 2,292

Diluted EPS# (in`) (FV` 1) 0.80 0.69 0.85 2.43 2.28 2.94

#Qtly/9M EPS not annualised, adjusted for corporate actions, FV`1

Anagram Capital financials consolidated wef 16th July 10

Capital based Businesses Revenue 70% of Total Revenue in Q3FY11 and 66% in 9MFY11


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0

500

1000

1500

2000

2500

3000

3500

4000

4500

5000

Q3'10 Q2'11 Q3'11

Revenue and PAT

9

(*) after minority interest

Total Revenue Profit After Tax*`mn

0

100

200

300

400

500

600

700

Q3'10 Q2'11 Q3'11

`mn


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10

Net Revenue concept becoming more relevant to Edelweiss with growth

in Capital based revenue

Agency and Capital businesses contributing equally at NR level;

Balanced growth

NR growth 47% YoY and 6% QoQ

Net Revenue Perspective

`million Q3FY11 Q3FY10 Q2FY11

Gross Revenue 4,447 2,302 3,761

Less: Interest Cost 1,751 464 1,215

Net Revenue (NR) 2,696 1,838 2,546

NR: Agency 1,353 859 1,437

NR: Capital 1,343 979 1,109


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11

Agency & Capital Revenue Analysis

`Million FY11 FY10 FY11 FY11 FY10 FY10

Q3 Q3 Q2 9M 9M Annual

Agency (Fee and Commission Income) 1,353 859 1,437 3,724 2,332 3,504

Income from Broking 810 536 801 2,168 1,560 2,079Investment Banking Fees 273 118 409 920 278 685

Asset Mgt & Other Advisory Fees 270 205 227 636 494 740

Agency Net Revenue 1,353 859 1,437 3,724 2,332 3,504

Capital Gross Revenue 3,094 1,443 2,324 7,325 4,822 6,274

Interest Income 2,379 744 1,786 5,421 2,307 3,389

Income from Treasury operations 643 607 482 1,687 2,115 2,455

Income from Investment and Dividend 2 54 45 88 342 342

Other Operating Income 70 38 11 129 58 88

Less: Interest Cost 1,751 464 1,215 3,742 1,373 1,943

Capital Net Revenue 1,343 979 1,109 3,583 3,449 4,331

Total Net Revenue 2,696 1,838 2,546 7,307 5,781 7,835

Total Operational Expenses 1,716 1,084 1,561 4,449 3,200 4,507

Operating and Other Expenses 1,045 685 919 2,600 1,960 2,763

Employee Cost 608 372 606 1,712 1,157 1,622

Depreciation 63 27 36 137 83 122

Profit Before Tax 980 754 985 2,858 2,581 3,328

Anagram Capital financials consolidated wef 16th July 10

PBT Margin 37% and PAT Margin 23% of Net Revenue in Q3FY11


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10%

Balanced Growth & Business Mix at Net Revenue Level

Treasury Interest Investment & Others Fee & Commission

12

4,438

2,171

3,493

(In`million)

Q3FY11

50%

280

9911,353 37%

Q3FY10

47%

14%

263

624859 34%

8%

Q2FY11

56% 851

56

1,437 33%

Agency and Capital Net Revenues contributing equally

72

202

92


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Summary Balance Sheet

`MillionAs on Dec 31, 10

UnauditedAs on Mar 31, 10

Audited

Sources of Funds

Shareholders Funds 23,049 22,574

Loan Funds 53,866 27,138

Minority Interest 4,857 2,132

Total Sources of Funds 81,772 51,844

Application of Funds

Fixed Assets 4,446 589

Investments 2,854 1,560

Deferred Tax Assets 647 603

Net Current Assets 73,825 49,092

Total Application of Funds 81,772 51,844

13

Strong and Liquid Balance Sheet with Low Leverage

B l Sh Hi hli h (U di d)


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14

Balance Sheet size`81.8 bn as at the end of third quarter, up 54% YoY

Steady State Credit Book at`29.7 bn as at the end of third quarter, up187% YoY and -5% QoQ; IPO Financing Book at`0.6 bn

Total Networth including Minority Interest`27.9 bn; Total Borrowings

`53.9 bn implying a gearing of 1.93x

Cash and Bank FDs at`23.6 bn

Return on Average Networth 11.1%

Adjusted Return on Average Networth ~13.5% post adjustment in

Networth for purchase of office building and loan to Employee Trust

Return on Average Assets 3.8%

Balance Sheet Highlights (Unaudited)

Returns are annualized


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Business Overview

B i P tf li


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Investment Banking

HNI Businesses

Financing

Treasury

Asset Management


Business Portfolio

16

Agency Businesses

Capital Businesses

NewBusinesses

GrowthBusinesses

EstablishedBusinesses

Balanced Business Portfolio across

Agency and Capital

Established, Growth and New Businesses

Organization Structure : SBUs


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Organization Structure : SBUsSBU Structure based on commonality of business drivers, resources andbackend

Wholesale Capital Markets

Retail Capital Markets

Wholesale Asset Management

Retail Asset Management

Wholesale Financing

Retail Financing

Insurance

Treasury

Enterprise

Corporate

Organization Structure : SBUs

IB, Institutional Equities

Broking, Wealth, Margin Funding

Alternative Asset Management

AMC

Sponsor Funding, Corporate Loans

Housing Finance

Life Insurance

Treasury

Ops, Tech, F&A, Legal, Compliance, Governance

HR, Communications

17

Investment Banking


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One of the widest product portfolios among the investment banking

franchises in India

Broad range of services from Capital Markets (ECM - IPOs, FPOs, QIPs,

Rights, Open Offers, Buy Backs and DCM) to Advisory (PE Syndication, M&A,

Structured Finance, Infrastructure Advisory)

Advised over USD 1 billion PE Investments and Strategic Exits since May 09

Coffee Day Resorts PE Deal of`9.6 bn arranged by us has been adjudged the

Best Deal of 2010 by Asian Venture Capital Journal

Strong franchise with emerging and mid market companies, Public and

Private Sectors, gaining traction with large corporates

Fixed Income Syndication reached top 10 of the league tables in its first

full year of operation

40 deals across ECM, Advisory and DCM in 9MFY11 (33 deals in FY10)

Investment Banking

18

InstitutionalEquities

InvestmentBanking

FinancingAssetManagement

Treasury HNI BusinessesRetail Broking& Distribution

Edelweiss is ranked 1st in ECM (IPO, FPO, Rights & QIPs) by no. of deals below`4 bn in CY10#

#Source Prime Database

Marquee ECM & Advisory Transactions 9MFY11


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Marquee ECM & Advisory Transactions 9MFY11

19

Debt Capital Market Transactions 9MFY11


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Debt Capital Market Transactions 9MFY11

20

Edelweiss is ranked 3rd in both CP issuance and Short Term Bonds placement in 9MFY11#


Advised USD 1 billion of Investments and Strategic Exits since May 09


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Private Equity InvestmentINR 9,600 Mn

Transaction Company Investors


Leading liquid logistics co.Private Equity InvestmentINR 2,400 Mn


Strategic Exit

INR 7,000 MnXcel Telecom

Strategic Exit

INR 7,396 Mn WL Ross & Co

Strategic Exit from an Internet company

Private Equity Investment

INR 13,500 Mn

Edelweiss acted as a trusted advisor to USD 1 billion of Private Equity Investments and Strategic Exits since May 2009

21

Advised USD 1 billion of Investments and Strategic Exits since May 09

http://www.warburgpincus.com/Default.aspxhttp://www.google.co.in/imgres?imgurl=http://blogs.citypages.com/blotter/BlackstoneLogo.gif&imgrefurl=http://blogs.citypages.com/blotter/2008/12/orgy_hotel_owne.php&usg=__JyTCq-a4CQb3U6otz5iWc9zHVNE=&h=79&w=393&sz=3&hl=en&start=4&itbs=1&tbnid=pYrHM11172nRpM:&tbnh=25&tbnw=124&prev=/images?q=blackstone+group&hl=en&gbv=2&tbs=isch:1http://www.warburgpincus.com/Default.aspxhttp://www.idfc.com/index.htmhttp://www.standardchartered.com/


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One of the Leading players in Institutional Equities

market share of ~5%

Wide client coverage across investor types and geographies

Robust technology platform and strong execution capabilities

Broad range of Trading products Blocks, Bulk deals, ETF/Basket trading,Index replication products, Derivatives modules, Algo execution

185 stocks under coverage - one of the largest Research coverage universeStrong positioning in Thematic Research - identifying large structuralthemes across sectors

Thought leader in quant and alternative research

over 15 regular products ex. pair-trading strategies, corporate event

tracker, special situations

Broad Corporate access through Global conferences and Managementmeetings

22


InvestmentBanking

FinancingAssetManagement

Treasury HNI BusinessesRetail Broking& Distribution

Research Coverage Sample Reports


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23

Research Coverage Sample Reports

Credit Business


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Credit Business

Primary offering

Collateralized loans to

Corporates & SME

Sponsors of mid to large corporates

HNI & Retail clients

Loans against ESOPs

IPO Financing

Home Loans

24


InvestmentBanking

TreasuryAssetManagement

Financing HNI BusinessesRetail Broking& Distribution

Credit Book Growth & Composition


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25

0

5

10

15

20

25

30

35

Q1'09 Q2'09 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Q2'11 Q3'11

`

inB

n


Wholesale Retail

Retail loans constitute 30% of the total book


InvestmentBanking



Credit Book Sector Exposure


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p

26

A well diversified credit book with a robust risk management approach

13%

12%

12%

12%9%

7%

6%

5%

4%

4%

2%12%

Sector Exposure as on 31st Dec '10

Organised Retail

Infrastructure

Media & Entertainment

Real Estate

IT & Telecom

Capital Goods

BFSI

CommoditiesMetals

Diversified

Consumer Durables

Others


InvestmentBanking



Credit Business


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27

Credit business

Steady state credit book at`29.7 bn at the end of Q3FY11 (`31.1

bn at the end of Q2FY11 and`10.3 bn at the end of Q3FY10)

Average yield on steady state credit book 16.4% in the third quarter

(15.6% in Q2FY11)

General loan loss provision on non-episodic standard assets at 50 bps

Capital Adequacy Ratio of ECL Finance Ltd 32% as on 31st Dec 10

with a Networth of ~`11.8 bn

Focus on scaling Credit business across wholesale and retail products

Home Finance business commences operations in Mumbai and to be

launched in Delhi & NCR in fourth quarter


InvestmentBanking



Credit Book Collateral Cover


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28

Average collateral cover at over 3.06x in the steady state credit book

Average collateral cover 3.08x in wholesale credit book and 2.60x in

retail credit book

Minimum cover at ~2.5x in wholesale credit book

1.5

2.0

2.5

3.0

3.5

Q1

FY09

Q3

FY09

Q1

FY10

Q3

FY10

Q1

FY11

Q3

FY11

Collateral Cover on Steady State Credit Book


InvestmentBanking



Credit Book Asset Quality


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`million As on Dec 31 10 As on Mar 3110

Total Loans# 30,270 18,372

Gross NPLs 332 225

Gross NPL % 1.10% 1.22%

Total Provision Held@ 234 116

Total Provision Cover@ 70% 52%

# Dec 10 Total Loans include episodic IPO financing book of`0.6 bn@ Total Provision includes General Loan Loss Provision on Standard Assets

29


InvestmentBanking



Treasury


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Manages liquidity in the Group with superior risk adjusted returns

Strong focus on capital preservation and liquidity

no negative quarter since 2001, no negative month since 2005

~80% of the book can be liquidated within 3 days with less than

1% impact costs

Deploys unutilized capital of the Group in low risk strategies

Origins in Equity and Equity Derivatives, now one of the few truly

multi asset class treasury operation in India

equity and equity derivatives, fixed income, commodities and

currencies

30


InvestmentBanking



Treasury returns correlation with India Equity returns


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31

Low correlation between market returns and treasury performance

No negative quarter over an 8 year period

*Treasury returns are at gross level; transaction and other costs average around 30-35% of the returns


InvestmentBanking



-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

Q1

FY08

Q3

FY08

Q1

FY09

Q3

FY09

Q1

FY10

Q3

FY10

Q1

FY11

Q3

FY11

Nifty Qtrly Returns (LHS) Treasury Qtrly Returns (RHS)

Asset Management


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32

Alternative Asset Management

Current focus largely on offshore institutional investors

Product Portfolio includes

Hedge Fund Arbitrage

EW Special Opportunities Fund

Real Estate (existing domestic fund), Distress Asset Fund,

Structured Products

AUMs/AUAs of USD 348 mn equivalent as the end of the quarter

Traditional Asset Management

Current focus on expanding the product portfolio and building

investment track record

Have 10 schemes across equity and debt funds with AUMs of` 1.8 bn


InvestmentBanking



HNI Businesses


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33

Wealth Advisory and Investment Services

HNI is a large growing market opportunity

India has an existing base of nearly 0.5 m individuals with

greater than USD 0.5 m investible assets, expected to grow at

~15-18% per annum

A truly multi-asset class offering with innovative, customised and

structured solutions

Among the largest domestic issuers of Structured Products

Strong research advisory support

Sales gaining traction, AUMs/AUAs ~`22 bn


InvestmentBanking



Retail Broking & Distribution - 1


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34

Retail Broking

New growth initiative at Edelweiss targeting the mass affluent

Centralized model of online (www.edelweiss.in) and tele-calling basedbroking

Client base of over 90,000 as on December 10

Decentralized model of branch and franchise based broking through

Anagram Capital

Minimal overlap with our existing retail businesses

Adds nationwide network of 138 own offices, 33 franchise offices,

over 1300 sub-brokers and nearly 219,000 Retail clients

Strong product offering based on delivering services as per client profile

High quality execution platform with best in class reporting

One of the widest Research offering for individual clients


InvestmentBanking



Total Retail Client Base of 309,000

Retail Broking & Distribution - 2
http://www.edelweiss.in/http://www.edelweiss.in/


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35

Retail Distribution

Started in 2007 with initial focus on Equity Initial Public Offerings

(IPO distribution)

Network of 7000 distributors across 320 cities

Ranked 1st in HNI category (market share 16%) and 3rd in Retail

category (market share 9%) by amount mobilized in IPOs for

9MFY11 as well as CY10#

Expanding into other products: MF, Corporate Debt and Insurance

distribution

Unique web-offering to provide access to channel partners


InvestmentBanking





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India : Growth Opportunities & Edelweiss Strategy

India: A Structural Shift in Growth


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37Source: CSO, Edelweiss

Nominal GDP at USD ~1.4 tn (FY10)

Witnessing a structural shift in the growth trajectory from 4-5% in

70s and 80s to 7%+ in the current decade

1st phase of economic

reformsStructural shift propelled

by services growth and

reforms

GDP to Savings Flow


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Household Savings

USD 360 bn

26%

Physical Savings

USD 160 bn

Financial Savings

USD 200 bn

Banking (60%)

USD 120 bn

Insurance(20%)

USD 40 bn

Capital Mkt

(5%)

USD 10 bn

45% 55%

GDP

USD 1.4 tn

Others (15%)

USD 30 bn

Physical assets represent ~45% of the total Household Savings

Banking and Insurance account for ~80% of the Financial Savings

Source: Internal estimates for FY11 38

Flows reflected in the size of the industry verticals


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39

Figures in brackets indicate revenue size in USD bnSource: Internal estimates for FY11

Non Banking Financial

Institutions

(11.0)

Banking

(59.0)

Banking & OtherLending

Insurance

~USD 70 bn ~USD 46 bn

Capital Market

~USD 11 bn

Life Insurance

(40)

Non Life Insurance

(6)

Retail Capital Markets

(5.5)

Wholesale Capital Markets

(5.5)

Retail accounts for ~50% of Capital Markets


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40

Figures in brackets indicate revenue size in USD bnSource: Internal estimates for FY11

Investment Banking(Advisory, ECM) (0.8)

Capital Market

Treasury (1.2)

~USD 11 bn

Institutional Equities (0.8)

Retail(Broking and Distribution) (4.5)

Traditional Asset Mgmt (1.0)

Financing (1.2)

Alternative and OffshoreAsset Mgmt (1.5)

Retail

(5.5)

Wholesale

(5.5)

Edelweiss Growth Strategy - 1


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41

Synergistic diversification into adjacent markets, newer client

segments, newer asset classes within the capital market industry

Have used this strategy to establish strong businesses in wholesale

capital markets

Expanding the footprint to retail capital markets

Retail Broking platform www.edelweiss.in

Anagram acquisition

Wealth Advisory and Investment Services

Retail Distribution

Asset Management

While scale up of wholesale credit continues, now building Retail

credit book margin funding and home finance

Edelweiss Growth Strategy - 2
http://www.edelweiss.in/http://www.edelweiss.in/


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42

Insurance initiative - JV with Tokio Marine Holding Inc.# to expand

beyond capital markets and tap large Indian household savings

Received initial R-1 approval from IRDA

Asset Reconstruction Company received RBI approval

This will require ongoing investments in building new businesses

while continuing to benefit from scale up of existing businesses

# subject to regulatory approvals


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Edelweiss Strengths

Edelweiss Strengths


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Culture

Risk

Management

CostFlexibility

Growth with

Profitability

Diversified

Revenue

Streams

Strong Balance

Sheet

44

Growth with Profitability


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-

2,000

4,000

6,000

8,000

10,000

12,000

FY99 FY01 FY03 FY05 FY07 FY09

Total Income`mn

11 year Revenue and PAT CAGRs of 80% and 75%

Approach: growth through adjacent markets; through widening the

product mix in existing businesses

45

Culture

Risk

ManagementCost

Flexibility

Growth with

Profitability

Diversified

Rev. Streams

Strong

Balance Sheet

-

500

1,000

1,500

2,000

2,500

3,000

FY99 FY01 FY03 FY05 FY07 FY09

Profit After Tax`mn

FY10 FY10

CAGR 80% CAGR 75%

Strong Balance Sheet


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Strong balance-sheet

Group net-worth of ~` 27.9 bn (including minority) (Dec 10)

Steady State Gearing of 1.93x including minority, ample capacity to lever

Liquid balance sheet

Liquid balance sheet with ~40% in Cash and Cash Equivalents

Total Treasury Assets account for ~50% of the total assets

Asset-side duration of less than 9 months, Liabilities at ~120 months

46

Culture

Risk

ManagementCost

Flexibility

Growth with

Profitability

Diversified

Rev. Streams

Strong

Balance Sheet

Diversified Revenue Streams


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2%

Fee & Commission Treasury Interest Investment & Others

47

4,438

2,171

3,493

(In`million)

9MFY11

15%

49%

3,724

1,687

5,421

34%

FY09

28%

37%

8%

2,441

2,512

3,315

27%

4%

FY10

25%

35%

3,504

2,455

3,389

36%

Balanced mix across three key operating revenue streams

Cost Flexibility


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~50% of total costs are variable in nature

Variable employee compensation varies from 30% to 50% of the

total employee costs

Operating costs - Direct variable costs incl. STT and Transaction costs

account for 40 to 50% of the operating costs

Financing Costs (linked to yield asset book size) Short term financing

costs account for nearly half of the total Financing CostsReflected in ability to maintain PBT margins across cycles

48

Culture

Risk

Management

Cost

Flexibility

Growth with

Profitability

Diversified

Rev. Streams

Strong

Balance Sheet

Risk Management


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Four tier oversight on risk covering key risk buckets financial,

operational, compliance and corporate governance

Business level risk group

Centralized risk group

Executive committee

Board committee

Strong internal framework for risk assessment backed by robusttechnology and processes, and benchmarked to best practices

49

Culture

Risk

Management`

Cost

Flexibility

Growth with

Profitability

Diversified

Rev. Streams

Strong

Balance Sheet

Culture


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Ownership

Employees (incl. key management) own over 50% of the company

One of the largest ESOP pools in the financial services space

~600 employees covered through the ESOPs

~6% of our stock in Employee Trust

Leadership

Four tier leadership pool covering over 5% of the organization

Continued emphasis on training and developing leadership

100 seater training center operational at Alibaug (near Mumbai)

Innovation

Reflected in leadership in new product and asset classesand new client segments

50

Culture

Risk

Management

Cost

Flexibility

Growth with

Profitability

Diversified

Rev. Streams

Strong

Balance Sheet

Safe Harbor


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This presentation and the discussion that follows may contain certain words or phrases that are forward - lookingstatements, based on current expectations of the management of Edelweiss Capital Ltd. or any of its subsidiariesand associate companies (Edelweiss). Actual results may vary significantly from the forward-looking statementscontained in this presentation due to various risks and uncertainties. These risks and uncertainties include the effectof economic and political conditions in India and outside India, volatility in interest rates and in the securitiesmarket, new regulations and Government policies that may impact the businesses of Edelweiss as well as the abilityto implement its strategy. The information contained herein is as of the date referenced and Edelweiss does notundertake any obligation to update these statements. Edelweiss has obtained all market data and other informationfrom sources believed to be reliable or are its internal estimates, although its accuracy or completeness can not beguaranteed.

This presentation is for information purposes only and does not constitute an offer or recommendation to buy or sellany securities of Edelweiss. This presentation also does not constitute an offer or recommendation to buy or sellany financial products offered by Edelweiss. Any action taken by you on the basis of the information containedherein is your responsibility alone and Edelweiss or its directors or employees will not be liable in any manner for theconsequences of such action taken by you. Edelweiss and/or its directors and/or its employees may have interestsor positions, financial or otherwise, in the securities mentioned in this presentation.

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For more information, please visit www.edelcap.com

Or email [email protected]

Thank you
http://www.edelcap.com/mailto:[email protected]:[email protected]://www.edelcap.com/

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