Ansal Properties to develop school properties

Ansal Properties & Infrastructure Ltd has informed that the Company has entered into a tripartite agreement with M/s. Edu Infrastructure Pvt Ltd, {Edu}, a subsidiary of M/s. Educomp Solutions Ltd and M/s. Knowledge Tree Infrastructure Ltd — its associate Company.

As per the agreement the Company and / or its associate would construct / develop the school properties in the various residential townships of the Company and lease it out to the school operators for operating and managing the schools. Edu shall have the right to take minority interest in the associate.

The agreement is expected to enable the Company to leverage the experience of M/s. Educomp to emphasize the education in its residential colonies.

Ansal Properties enters into Power

Ansal Properties & Infrastructure Ltd has informed that in terms of the amendments in its objects clause and with the approval of the shareholders, the Company has successfully diversified in the new business of Power by establishing & commissioning Wind Mills with a capacity of 12 MW, at Kutch, Gujarat.

Ansal Properties & Infrastructure

Ansal Properties & Infrastructure Ltd has informed that the Company has entered into a MOU, on September 28, 2007, with UEM (Mauritius) Co. Ltd, {UEM}, to form a joint Venture Company in India {JVC}. The JVC shall carry out building construction and engineering works of various projects of the Company situated in various states to give impetus to its construction activities in terms of quality and timeliness.

UEM as part of UEM Builders is under UEM Group Berhad. This Group also has a strong presence in India since early 1990s. This Group is a leading and well diversified conglomerate in Malaysia and a wholly owned subsidiary of Khazana Nasional Berhad, an investment arm of the Malaysian Government. As one of the Malaysia's largest conglomerate and a preferred nation building partner there, it also has presence in other parts of Asia, in UK, Africa and Middle East Counties. With assets of more than USD $ 7.5 billion and shareholders funds in excess of USD $ 1.90 billion and human resource strength in excess of 19,000, it operates through more than 40 major subsidiaries and associate companies many of which are listed on Malaysian and London Stock exchanges.

Ansal Properties & Infrastructure

Ansal Properties & Infrastructure Ltd has informed that the Company has entered into Joint Venture / Strategic Sales as follows:

1. M/s. Pearl Global Ltd, for setting up a Cyber Park on about 8 acres of land on NH-8 at a very strategic location with an expected sales value of about Rs 350 to Rs 400 crores.

2. M/s. Ashiana Retirement Village Ltd, for developing a Group Housing meant for senior citizens, to which about 14 acres of land in its Lucknow Project has been sold.

3. M/s. Globosport India Pvt Ltd whereby they will provide sports infrastructure and coaching facilities at its Lucknow Project and other places, wherein Mr. Mahesh Bhupati and Mr. Gaurav Natekar, renowned tennis players, will be involved.

Ansal Properties & Infrastructure

Ansal Properties & Infrastructure Ltd has informed that the members at the 40th Annual General Meeting (AGM) of the Company held on September 22, 2007, inter alia, have accorded to the following:

1. Annual Accounts for the year ended March 31, 20O7 together with the consolidated Financial Statement of the Company have been adopted.

2. Confirmed the Interim Dividend @ 15% already declared & paid and declared final dividend @ 10% on the Paid-up Equity Shares Capital.

3. Re-appointed Shri. D N Davar, Shri. Rahul C Kirloskar & Shri. P R Khanna, as Directors, liable to retire by rotation.

4. Re-appointed M/s. Khanna & Annadhanam, Chartered Accountants, as Statutory Auditors of the Company.

5. Approved and gave authorization for Issue of securities on public issue / rights / qualified institutions placement basis / any other basis up to Rs 5000 crores.

6. Approved and gave authorization for increasing the limit of 24% for holding by registered FII through Portfolio Investment Scheme up to Sectoral Cap / Statutory ceilings.

7. Approved the increase in the Authorised Share Capital of the Company from Rs 110 crores to Rs 150 crores.

8. Approved and authorized Board for creation of charge etc. in terms of Section 293{1}{a} of the Companies Act, 1956, for borrowing upto enhanced limit of Rs 3000 Crores.

9. Approved and authorised Board for borrowing in terms of Section 293(1)(d) of the Companies Act, 1956 upto enhanced limit of Rs 3000 crores.

10. Approved the increase in remuneration of Mr. Anil Kumar, Whole Time Director & CEO and revised his grade.