Slide 1: InvIT Investment Opportunity
All images and videos are shot at location InvIT Investment Opportunity An Operational Portfolio of 24 Road Assets March 21 Private & Confidential
Slide 2: About InvIT
All images and videos are shot at location ABOUT InvIT
Slide 3: InvIT Structure
InvIT Structure Sponsor (Shrem Infra Structure Private Limited) + Other Potential Unit Holders Trust managementservices Trustee Trusteefees (Axis Trustee Services Limited) Investment Manager Investmentmanagement services (Shrem Financial Private Limited) InvIT Loans to InvIT Interest & Princ. Repaym
Slide 4: Geographically Diversified Road Portfolio
Geographical Diversified Road Portfolio Operational Revenue Generating Portfolio of 24 projects entailing an equity Investment of ~₹ 15 Bn along with a Debt of ~₹40 Bn AAA (Stable) Rated Portfolio by ICRA & India Rating (Fitch)
Slide 5: Attractive Road Portfolio built over Strong Foundation
Attractive Road Portfolio built over Strong Foundation Operational Robust Risk Strong Technical & Projects Mitigants Management Team • 24 Project Assets spread across 5 states • Fixed-Price O&M Contracts in place with • Pro-active management team with acquired from DBL DBL for the entire life of all
Slide 6: NHAI/MoRTH Road Asset
NHAI/MoRTH Road Asset Operational No. of Bid Project Lane (Length Concession Bided O&M Sr No. Name of the Asset State Authority PCOD Annuities Cost in Kms) Period (In Crs) Received (In Crs) (in years) DBL Lucknow Sultanpur Highways 1 UP 4(127.4) NHAI 30-04-2019 15 3 / 30 2,016 5.0 Ltd (DLSHL) DBL Ya
Slide 7: State Concession Road Asset Portfolio
State Concession Road Asset Portfolio Sr Lane (Length Concession Period Residual Life Project Cost Name of the Project State Authority Type COD No. in Kms) (in Year) (in Years) (In Crs.) 1 DBL Bankhlafata – Dogawa Tollways Ltd MP 2(65) MPRDC Annuity 31-03-2014 15 8 118 2 DBL Jaora – Sailana Tollways
Slide 8: Revenue Composition
Revenue Composition 100.00% 2.18% 2.01% 0.95% 0.98% 1.01% 0.00% 0.00% 0.00% 3.36% 3.77% 4.03% 4.22% 4.41% 4.45% 3.93% 3.81% 90.00% 11.64% 12.27% 13.67% 14.56% 15.67% 16.95% 20.47% 25.33% 29.28% 32.17% 36.48% 80.00% 38.87% 41.58% 44.21% 53.05% 70.00% 60.00% 92.35% 50.00% 85.00% 83.95% 40.00% 82.30% 8
Slide 9: Roads & Highway Project Management & Execution Experience
Roads & Highway Project Management & Execution Experience Major Milestones Achieved in last 4 Years since Acquisition Routine Operation & Commendable Major Completed construction of Maintenance of Maintenance of 3,532.50 2,909.85 1,192.11 Lane Kms of 10 Projects Lane Kms of 14 Projects Lane Kms of 6
Slide 10: Cash flow – Escrow to Escrow
Cash flow – Escrow to Escrow Cashflow moves from SPV Escrow to InvIT Escrow with complete control of InvIT Lender and residual Cashflow to be distributed by Axis Trustee 24 Operational Assets Operation & Maintenance Project Management (Dilip Buildcon Limited) (Shrem Road Projects) O&M Payment Revenu
Slide 11: Investment Philosophy – Going Forward
Investment Philosophy – Going Forward All related Investment New party will be only in acquisitions Valuation transactions Operational are approved and Technical are approved HAM/Annuity by Investment due diligence by majority of assets which Committee by minority unit is value consisting of Ind
Slide 12: About Sponsor
All images and videos are shot at location ABOUT SPONSOR
Slide 13: Shrem Group: Diversified Asset Investment Family Office
Shrem Group : Diversified Asset investment Family office Description About the Promoter • Established in 2011, Shrem Group is a Mumbai based Family Office Mr. Nitan Chhatwal • 30+ years of experience in managing businesses and Executive Chairman Investments managed by Mr. Nitan Chhatwal • As co-prom
Slide 14: Investment Journey of Promoters/Sponsors
Investment Journey of Promoters/Sponsors Since 1992 Promoters of Shrem Group have set up world class manufacturing unit and have made varied investments in different sectors via its family investment office investment companies. Detailed experience of the Promoters is as below: Sector Projects and I
Slide 15: About Investment Manager
All images and videos are shot at location ABOUT INVESTMENT MANAGER
Slide 16: Board of Directors - Independent Governance Structure of Investment Manager
Board of Directors - Independent Governance Structure of Investment Manager Investment manager has 6 board of director The Board of Directors consists of 3 eminent infrastructure industry veterans as independent Directors, 1 professional executive director and 2 directors representing the sponsor fa
Slide 17: Independent Directors – Infrastructure Industry Veterans
Independent Directors – Infrastructure Industry Veterans Mr. Pradeep Singh • He is an IAS officer and worked in various senior positions in the state of Assam and the Ministry of Home Affairs (MHA) and the Ministry of Defense (MOD).He also served as the Managing Director of a state run textile under
Slide 18: Executive Team (1/2)
Executive Team (1/2) Nitan Chhatwal – Chairman • He is the Chairman of Board of Directors & first-generation entrepreneur with experience of over 30 years in establishing businesses and managing investments. • He started his family office in 2010 and since then has managed investments in Real Estate
Slide 19: Executive Team (2/2)
Executive Team (2/2) Piyush Jain - Director • He has been associated with Shrem Group since September 2016 and was involved in structuring and negotiating the deal between Shrem Group and Dilip Buildcon Ltd for the acquisition of 24 road projects. • Over 10 years of work experience in India & Austra
Slide 20: Robust Regulatory discipline for InvIT
Robust Regulatory discipline for InvIT Shrem InvIT is proposed to be listed on NSE and is subject to supervision and scrutiny by Regulatory authorities including various intermediaries under SEBI as under. (a) SEBI under SEBI InvIT Regulation ,2014 (b) NSE under Listing Obligation and Disclosure Req
Slide 21: Project Management Credential and Capabilities
Project Management Credential and Capabilities Shrem Road Projects Pvt Ltd - Project Manager Appointed as Project Manger of Shrem InvIT. Project Implementation & Management Agreement (PIMA) details the roles and responsibilities towards trust and projects. Project Manager has deputed experienced a
Slide 22: Operation & Maintenance Contractor
Operation & Maintenance Contractor Dilip Buildcon Limited (DBL) was the original bidder for the Project SPVs and was also the EPC contractor for the construction and development these Assets. Also, DBL is working as O&M contractor since start of commercial Operation of each SPV. Pursuant to the O&M
Slide 23: Operation & Maintenance – Checks & Balances
Operation & Maintenance – Checks & Balances DBL will be responsible for discharging all the O&M responsibilities required to be discharged under the Concession Agreements by the Project SPVs. Some of the benefits that arise from our O&M arrangements with DBL include: • Fixed cost structure for the e
Slide 24: Industry Overview
All images and videos are shot at location INDUSTRY OVERVIEW
Slide 25: In contrast to peers, Shrem portfolio is annuity focused with lower risk and superior yields
In contrast to peers, Shrem portfolio is annuity focused with lower risk and Superior Yields IRB InvIT Oriental Infratrust Indinfravit SPV Nature Lane km SPV Nature Lane km SPV Nature Lane km SPV Nature Lane km IDAA BOT Toll 390 BPPTL BOT Toll 976 BRTPL BOT Toll 348 ECKHPL BOT Toll 961 IRBSD BOT Tol
Slide 26: Road Sector: Awarding and construction has witnessed a rebound post COVID
Road Sector: Awarding and construction has witnessed a rebound post COVID Overview NH Awarding Mix (FY21 till Jan) • India has the 2nd largest road network globally, spanning 5.9 mn km NH awarding (km) • Road transportation, the most frequently used mode of transportation in India, accounts for 17,0
Slide 27: Strategic Programs & Budget Supporting Road Sector Growth
Strategic Programs & Budget Supporting Road Sector Growth Strategic Programs Budget Highlights 1 National Highways Development Project (NHDP) • In Feb ‘21, Hon’ble Finance Minister announced investment opportunities worth ₹2.5 trillion in the national asset monetization pipeline through sale of arou
Slide 28: Indian Capital Markets: Continued Resilience on Better than Anticipated Economic Recovery
Indian Capital Markets: Continued Resilience on Better than Anticipated Economic Recovery Global Market Performance Institutional equity flows in India since Apr 1, 2020 1 week 1 month 6 months 1 year FY YTD | FII +35,554 $mm | DII -18,907 $mm Monthly SIP 83 81 79 78 78 78 78 73 84 80 75 NSE NIFTY -
Slide 29: Overview of Project Portfolio: NHAI Toll Projects
All images and videos are shot at location OVERVIEW OF PROJECT PORTFOLIO NHAI Toll Projects
Slide 30: Jalpa Devi Tollways Limited 1/3
Jalpa Devi Tollways Limited 1/3 Project Snapshot Strategic Geographic Location Four laning of the existing two lane road on the Guna - Project Overview Biaora stretch on National Highway – 3 (NH-3) from 332.10 km to 426.10 km. State Madhya Pradesh Type Toll - NHAI Project Length Four Lanes of 94 Km
Slide 31: Detailed Site Map
Detailed Site Map Legend: "= Project section NEE tolPtaxe InviT
Slide 32: Jalpa Devi Tollways Limited 3/3
Jalpa Devi Tollways Limited 3/3 Debt Position (INR in Cr) Means of Financing Drawn / Debt Outstanding as on Particulars Amount (INR Cr) Sr No. Financial Institution Sanctioned Limit 31 Dec’20 1 IIFCL 165 165 Promoter Contribution 220 2 IDBI 150 150 3 SBI 119 118 Senior Debt 654 4 UCO 110 109 Grant 2
Slide 33: Overview of Project Portfolio: HAM Projects
All images and videos are shot at location OVERVIEW OF PROJECT PORTFOLIO HAM Projects
Slide 34: DBL Lucknow Sultanpur Highways Limited
DBL Lucknow Sultanpur Highways Limited Project Snapshot Means of Financing Particulars Amount (INR Cr) Four-laning of the Lucknow-Sultanpur section of Project Overview Promoter Contribution 255 National Highway 56 (new NH 731) Senior Debt 827 Type Hybrid Annuity Model NHAI Grant 874 State Uttar Prad
Slide 35: DBL Yavatmal Wardha Highways Private Limited
DBL Yavatmal Wardha Highways Private Limited Project Snapshot Means of Financing Particulars Amount (INR Cr) Project Overview Four-laning of Yavatmal-Wardh section of NH-361 Promoter Contribution 98 Senior Debt 295 Type Hybrid Annuity Model NHAI Grant 445 State Maharashtra Total 838 Project Length F
Slide 36: DBL Tuljapur Ausa Highways Limited
DBL Tuljapur Ausa Highways Limited Project Snapshot Means of Financing Particulars Amount (INR Cr) Four-laning of a stretch of the Tuljapur-Ausa Project Overview Promoter Contribution 65 section of NH-361 Senior Debt 253 Type Hybrid Annuity Model NHAI Grant 392 State Maharashtra Total 710 Project Le
Slide 37: DBL Wardha Butibori Highways Private Limited
DBL Wardha Butibori Highways Private Limited Project Snapshot Means of Financing Particulars Amount (INR Cr) Four-laning a stretch of the Wardha-Butibori Project Overview Promoter Contribution 87 section of NH-361 Senior Debt 267 Type Hybrid Annuity Model NHAI Grant 454 State Maharashtra Total 808 P
Slide 38: DBL Kalmath Zaraph Highways Limited
DBL Kalmath Zaraph Highways Limited Project Snapshot Means of Financing Upgradation of NH-66 (erstwhile NH-17) to four Particulars Amount (INR Cr) Project Overview lanes on Kalmath to Zaraph section from 406.0 km Promoter Contribution 80 to 450.2 km in Sindhudurg district Senior Debt 314 Type Hybrid
Slide 39: DBL Mahagaon Yavatmal Highways Private Limited
DBL Mahagaon Yavatmal Highways Private Limited Project Snapshot Means of Financing Particulars Amount (INR Cr) Four-laning of Mahagaon to Yavatmal section of Project Overview Promoter Contribution 90 NH-361 from Km 320.580 to Km 400.575 Senior Debt 311 Type Hybrid Annuity Model NHAI Grant 501 State
Slide 40: Overview of Project Portfolio: State Concession Projects
All images and videos are shot at location OVERVIEW OF PROJECT PORTFOLIO State Concession Projects
Slide 41: DBL Bankhlafata Dogawa Tollways Limited
DBL Bankhlafata Dogawa Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Sr No. Financial Institution Drawn / Sanctioned Limit Two laning / intermediate laning of three district December 31, 2020 roads namely Bankhalafta-Dogawa via Borawa- Project Overview Savardeval
Slide 42: DBL Jaora Sailana Tollways Limited
DBL Jaora Sailana Tollways Limited Project Snapshot Debt Position (INR in Cr) Two laning of Jaora – Piploda – Jalandharkheda & Debt Outstanding as on Sr No. Financial Institution Drawn / Sanctioned Limit Piploda – Sailana Road, Raipuriya – Patlabad – December 31, 2020 Project Overview Bamniya Road,
Slide 43: DBL Ashoknagar Vidisha Tollways Limited
DBL Ashoknagar Vidisha Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Sr No. Financial Institution Drawn / Sanctioned Limit Two laning of the existing road from bypass December 31, 2020 Project Overview junction of Ashoknagar to Bangla Chauraha Jaora 1 SBI 65 48 T
Slide 44: DBL Silwani Sultanganj Tollways Limited
DBL Silwani Sultanganj Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Construction, improvement and development of Sr No. Financial Institution Drawn / Sanctioned Limit December 31, 2020 Project Overview existing two lanes with paved shoulder from Silwani to Sagar
Slide 45: DBL Sitamau Suwasara Tollways Limited
DBL Sitamau Suwasara Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Construction, improvement and development of Sr No. Financial Institution Drawn / Sanctioned Limit December 31, 2020 Project Overview existing two lanes with paved shoulder for Sitamau – Basai - S
Slide 46: DBL Hata Dargawon Tollways Limited
DBL Hata Dargawon Tollways Limited Project Snapshot Debt Position (INR in Cr) Construction, improvement and development of Debt Outstanding as on Sr No. Financial Institution Drawn / Sanctioned Limit Project Overview the existing road on the stretch Fatehpur - December 31, 2020 Dargawon on State Hig
Slide 47: DBL Patan Rehli Tollways Limited
DBL Patan Rehli Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Construction, improvement and development of Sr No. Financial Institution Drawn / Sanctioned Limit Project Overview December 31, 2020 road project between Patan and Rehli 1 Andhra Bank 8 6 Type Toll +
Slide 48: DBL Mundi Sanawad Tollways Limited
DBL Mundi Sanawad Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Construction, improvement and development of Sr No. Financial Institution Drawn / Sanctioned Limit December 31, 2020 Project Overview existing two lanes with paved shoulders for Mundi- Pansra- Sulgao
Slide 49: DBL Uchera Nagod Tollways Limited
DBL Uchera Nagod Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Construction, improvement and development of Sr No. Financial Institution Drawn / Sanctioned Limit December 31, 2020 Project Overview existing two lanes with paved shoulder for Uchera – Nagod – Singhp
Slide 50: DBL Betul Sarni Tollways Limited
DBL Betul Sarni Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Sr No. Financial Institution Drawn / Sanctioned Limit Two laning of the existing road from Kamani Gate December 31, 2020 Project Overview in Betul and ends at Bus Stand in Parasiya 1 Canara Bank 54 40
Slide 51: DBL Tikamgarh Nowgaon Tollways Limited
DBL Tikamgarh Nowgaon Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Two laning of the existing road from bypass Sr No. Financial Institution Drawn / Sanctioned Limit December 31, 2020 Project Overview junction of Tikamgarh to Nowgaon section of major district roa
Slide 52: DBL Sardarpur Badnawar Tollways Limited
DBL Sardarpur Badnawar Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Two laning with paved shoulders for Sardarpur- Sr No. Financial Institution Drawn / Sanctioned Limit Project Overview December 31, 2020 Badnawar road section 1 PNB 54 31 Type Toll + Annuity Tota
Slide 53: DBL Nadiad Modasa Tollways Limited
DBL Nadiad Modasa Tollways Limited Project Snapshot Debt Position (INR in Cr) Upgrading of existing two lane of Nadiad – Modas Debt Outstanding as on Sr No. Financial Institution Drawn / Sanctioned Limit Project Overview Section in the State of Gujarat (part of SH-59) from December 31, 2020 km 0.600
Slide 54: DBL Mundargi Harapanahalli Tollways Limited
DBL Mundargi Harapanahalli Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Upgrade and maintenance of Two-laned, Mundargi Sr No. Financial Institution Drawn / Sanctioned Limit Project Overview December 31, 2020 – Hadagali - Harapanahalli stretch 1 Oriental Bank 78
Slide 55: DBL Hassan Periyapatna Tollways Limited
DBL Hassan Periyapatna Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Upgrade and maintenance of the two-laned Hassan Sr No. Financial Institution Drawn / Sanctioned Limit Project Overview December 31, 2020 – Ramnathpura – Periyapatna stretch 1 Corporation Bank 60
Slide 56: DBL Hirekerur Ranibennur Tollways Limited
DBL Hirekerur Ranibennur Tollways Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Upgrade and maintenance of the two-laned Sr No. Financial Institution Drawn / Sanctioned Limit Project Overview December 31, 2020 Hirekerur - Ranibennur stretch 1 Andhra Bank 96 52 Type Annuit
Slide 57: Suryavanshi Infrastructure Private Limited
Suryavanshi Infrastructure Private Limited Project Snapshot Debt Position (INR in Cr) Debt Outstanding as on Existing two lane Nadiad – Modasa road in the Sr No. Financial Institution Drawn / Sanctioned Limit August’20 Project Overview State of Gujarat (part of SH-59) from km 0.600 to km 109.00 1 Ni
Slide 58: Thank You!
THANK YOU!